Taiwan Dollar Joins Yen in Rally

The Taiwan dollar rose a little today, trading near the highest level in one week. The currency advanced as the Japanese yen rallied and the US dollar retreated, potentially helping nation’s exports.

The stronger yen should benefit Taiwanese exporters, making their Japanese rivals less competitive. The yen rallied following yesterday’s speech from Bank of Japan Governor Haruhiko Kuroda and disappointing macroeconomic data from the United States. Experts believe that the Taiwan dollar will have hard time keeping gains as the longer-term outlook remains bullish for the US currency and bearish for the yen.

USD/TWD ticked down by 0.01 percent to 30.9260 as of 15:56 GMT today.

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