USD/TWD sits just shy of neutral levels,.....>

TAIWAN: USD/TWD sits just shy of neutral levels, last at TWD29.89. We've heard

some comments from Taiwan's central bank today. UDN cited Governor Yang

Chin-long as speaking against the prospect of negative interest rates, amid

worries about potential consequences for banks' profits and the dependence of

many Taiwanese on interests to cover daily expenses. Yang later told lawmakers

that the central bank has room to lower the benchmark interest rate and will

take note of decisions of other central banks across the world while shaping its

own policies. Yang added that global economic recovery will not happen in Q2,

but when it occurs it will take the shape of the "Nike swoosh logo".

- Losses past May 11 low of TWD29.81 would prompt bears to target Apr 30 low of

TWD29.72, the worst level since mid-2018. Bulls keep an eye on May 7 high of

TWD29.96. A break here would give them hope for a stronger rebound, bringing the

psychological TWD30.0 barrier into play.