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Weakens After Breaching Key Level

TWD

Taiwan dollar is weaker, USD/TWD gapped higher at the open and is holding the move last up 0.044 at 27.654. The pair breached 27.60 briefly on Monday, its first time under the level since June 1 which saw a sharp rebound in the pair.

  • On the coronavirus front Taiwan extended quarantine duration for airline crew members returning from high-risk regions. There were 185 new coronavirus cases reported on Monday.
  • There were reports that the government plans to increase loans available to local firms by TWD 150bn under the "Invest Taiwan" programme.

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