Greenback closes higher on Taipei forexTAIPEI--The U.S. dollar rose against the Taiwan dollar Monday, gaining NT$0.046 to close at NT$31.519 in the wake of the weakness of other regional currencies, dealers said. While foreign institutional selling in Taiwan's stock market put pressure on the Taiwan dollar, a strong comeback later in the session limited the damage, dealers said. The greenback opened at NT$31.495, and moved between NT$31.430 and NT$31.520 before the close. Improving sentiment toward Clinton's presidential bid prompted currency traders in the region to move their funds out of regional currencies, including the Taiwan dollar, into U.S. dollar assets, which helped the greenback stage a rebound, they said. Despite the upturn enjoyed by the U.S. dollar, turnover on the foreign exchange market remained thin, with many traders taking to the sidelines, waiting for the results of the vote expected on Wednesday Taipei time, dealers said.

Source: The China Post November 07, 2016 16:21 UTC