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USD/TWD Steady Unlikely to Break 30.25 Near Term

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General News
Tuesday, May 20, 2014
        0849 GMT [Dow Jones] The USD/TWD is steady, closing at 30.202 vs. 30.185 late Monday in Taipei. Two traders say the local central bank is believed to have bought the USD around 30.145 (vs. 30.130 Monday) to keep the pair in its target band. One of the traders adds that exporters' selling of the greenback and foreign-investor buying of local stocks will continue to keep USD/TWD below 30.25 in the near term. Foreign investors have been net buyers of local stocks for six consecutive sessions. (aries.poon@wsj.com)
        (END) Dow Jones Newswires

        May 20, 2014 04:50 ET (08:50 GMT)

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