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Flows − USD/TWD slipped as Taiex surged on hopes that fin pact will be signed soon
Mon, Nov 9 2009, 01:50 GMT
by FXMarketAlerts Team
Published at 01:14 (GMT) 09 Nov
The currency pair stumbled lower to sub 32.500-levels this morning as Taiex surged more than 1% at open. News from the local media that China is ready to sign the much-anticipated financial services pace with Taiwan has lifted sentiments despite the disappointing US Non-farm Payrolls and unemployment data last Friday. Director of China's Taiwan Affairs Office Wang Yi was quoted that "it would be nice" if the MOU was signed in the next two days after Taiwan's Vice Premier Eric Chiu said on Friday that the pact will be signed in a day or two. Expect the news to give local financial stocks a boost. Taiex was last seen at +1.06%. Expect the pairing to test the 32.440 strong support level today. JA
Published on Mon, Nov 9 2009, 01:52 GMT
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