Taiwan Dollar Rises on Optimism Monetary Easing to Boost Exports
Taiwan's dollar rose to the strongestlevel in nearly two weeks on optimism central banks in theworld's biggest economies will ease monetary policy, helpingsupport the island's exports. Government bonds gained.
"A rate cut by the ECB would support a rally acrossTaiwan's asset classes," said Albert Lee, a Taipei-based fixed-income trader at Cathay United Bank Co. "Nevertheless the effect mayfizzle in a day or two. The ECB hasn't been able to inject muchconcrete optimism into the market lately."
The yield on the 1
The yield on the 1.25 percent bonds due March 2022 fell onebasis point to 1.22 percent, according to Gretai SecuritiesMarket. The overnight interbank lending rate was steady at 0.506percent, according to a weighted average compiled by the TaiwanInterbank Money Centre.