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Taiwan Considers Loosening Lockdown Measures

TWD

Taiwan dollar is stronger today, USD/TWD dropping as the rate plays catch up with the downward move in the greenback on Friday. The pair last down 0.112 at 27.872 having stopped just short of breaching the 28.00 handle on Friday.

  • On the coronavirus front Taiwan reported 57 cases in the latest 24-hour period and has been below 100 for a week. This has prompted the healthy authority to consider ending the current level 3 movement restriction measures. Level 3 means no more than 10 people can gather outside and no more than five inside, while wearing a mask is compulsory everywhere outside the home. Indoor dining has been banned and many attractions closed their doors. CECC chief Chen said over the weekend the alertness of the general public and the speed of response to new cases would play a part in deciding whether or not to relax the restrictions on July 12.
  • Participants await the release of FX reserves data later today.
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