The New Taiwan dollar had its biggest loss in a week, declining in line with yen after dealers found no clear directions in President Chen Shui-bian's (
The NT dollar therefore was under pressure such as rising oil prices which may repress Asian economic growth and a continued capital outflow by foreign investors from Asia, they added.
"President Chen carefully balanced his speech to please all parties, though the content is blurred with too many aspects, making it hard to fully understand and difficult to make any side completely satisfied," said Mike Shiao (
The NT dollar yesterday fell 0.3 percent to close at NT$33.617 against its US counterpart on the Taipei foreign exchange market, its largest decline since May 13. It had dropped as much as 0.6 percent.
On the Tokyo foreign exchange market, the yen was trading at ?113.47 against the greenback yesterday, down ?0.64 from on Wednesday.
The NT dollar also fell as stocks declined, said analysts such as Suresh Kumar, a Singapore-based currency strategist at Forecast Ltd.
``If I was a foreign investor, I'd wait for China's reaction before investing in Taiwan,'' Kumar said.
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