Free Trial

USD/TWD Through 32.00, Fresh Highs Back To Early 2017


Spot USD/TWD has broken to fresh cyclical highs today, with the pair breaching the 32.00 level. This is fresh highs back to early 2017. We topped out just above 32.36 then. The 1 month NDF is also above 32.00 (last 32.01) and tracks at a slightly premium to spot (in USD/TWD terms).

  • Vols are tracking higher, the 1 month implied close to 8.50%, very close to recent highs. The 1 month risk reversal is drifting up, last +1.465, but we are below earlier YTD highs above +2.00.
  • Onshore equities are down sharply today, off around 2.0%, the weakest performer within the region. We are quite close to lows from last week that came in just under 12810 (currently around 12865).
  • Offshore investors were net buyers of onshore equities on Friday (+372.2mn), but this only reduced net week outflows back to -$1492.3mn. Note we haven't seen a positive weekly net inflow since the end of July.
  • The data calendar is quiet until export orders print on Thursday.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.