The U.S. dollar edged up against Taiwan's dollar Monday, a mildly negative signal for Taiwanese importers and a small win for exporters.

• The greenback gained slightly to close near NT$31.67 after trading in a narrow range all day.
• Turnover was moderate, pointing to a quiet session rather than a big move.
• A weaker Taiwan dollar makes the island's exports cheaper abroad but raises the cost of imported goods and energy.
• The move came as Taiwan's stock market clawed back part of its losses ahead of MSCI index changes, and as the country's factories flashed their first warning signal in over five years.

Outlook: With Taiwan's manufacturing showing strain, the local currency is likely to stay under mild pressure in the near term.