Taiwan’s dollar touched a two-week high as local stocks rallied after the unemployment rate in the U.S., the island’s second-biggest export market, dropped to a five-year low. Government bonds advanced.
Taiwan’s dollar fell for a fifth week, its longest run of losses in 17 months, as global funds sold local stocks amid signs the U.S. is preparing to cut stimulus that’s buoyed emerging markets. Government bonds rose.
Taiwan dollar forwards touched a five-week low after data showed the U.S. economy expanded more than forecast in the third quarter, stoking speculation the Federal Reserve will taper its stimulus sooner than predicted.