Taiwan dollar forwards declined for a fourth day, the longest losing streak in more than three months, on speculation the island’s central bank will favor a weaker currency as the Chinese yuan declines.
Taiwan’s dollar was headed for its biggest weekly advance in 19 months as foreign investors boosted holdings of local stocks and minutes of the Federal Reserve’s last policy meeting weakened the greenback.
Taiwan dollar forwards headed for the biggest three-day advance since July as the Federal Reserve eased concern it may raise interest rates earlier than anticipated, boosting the appeal of emerging-market assets.
Taiwan’s dollar posted its biggest weekly advance since August after global investors increased purchases of the island’s equities, and as currency gains in South Korea and China reduced the case for intervention.
Taiwan’s dollar forwards headed for the biggest two-day gain since November after manufacturing data signaled a sustained economic recovery and the Federal Reserve eased concern it will raise rates sooner than expected.