USD/TWD at 4-Year High But Foreign Inflows Cap Gain

        0852 GMT [Dow Jones] The USD/TWD rises on suspected central bank intervention, say two local traders. The pair closes at 30.775--the highest onshore closing level in almost four years--versus 30.739 late Monday. The traders say the local central bank is believed to have bought the U.S. dollar at around 30.715 (versus 30.676 Monday) to keep the pair in its target band. A trader says foreign fund inflows weighs on the pair's rise, while the weaker USD/CNY and USD/KRW somewhat help offset a strengthening USD/JPY. Decreasing onshore trading volume is another sign of that the market is in a cautious mood. Taiwan shares end 0.3% lower Tuesday; but foreign investors turn net buyers of NT$3.14 billion of local shares. (fanny.liu@wsj.com)
        (END) Dow Jones Newswires

        November 18, 2014 03:52 ET (08:52 GMT)