U.S. dollar closes lower on Taipei forex market
The U.S. dollar slipped against the Taiwan dollar on Friday, a mild negative for the greenback and for Taiwan's exporters.
- The dollar ended the Taipei session at its low for the day, giving up ground against the Taiwan dollar.
- Trading volume was light, just over a billion U.S. dollars for the day.
- The dollar started the day higher and touched its peak early before drifting down through the session.
- A stronger Taiwan dollar squeezes the island's exporters, who earn in dollars and pay costs at home.
Outlook: With Taiwan stocks also closing higher, the Taiwan dollar looks likely to hold its footing near term unless U.S. rate expectations shift.