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Scotiabank notes that "The TWD has been......>

TAIWAN
TAIWAN: Scotiabank notes that "The TWD has been declining persistently amid
continued equity outflows since the beginning of April. We identified a rising
correlation between the TWD and the DXY index, which suggests the market forces
are now playing a bigger role in determining the TWD exchange rate."
- Scotia would like to buy AUDTWD with a target of 23.5 on the back of booming
commodities and further upside potential for USDTWD (AUDTWD spot last at
22.7390).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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