Taiwan Dollar Gains in Currency Trading

October 1, 2008 by Trader Rich 

FX trading with Asian currenciesThe Taiwan dollar is gaining in currency trading today. In FX trading, many emerging Asian currencies follow the U.S. dollar and the U.S. economy.

With a measure of calm returning after the uproar following the House defeat of the bailout bill, the Taiwan dollar is on the rise in currency trading. Bloomberg reports on FX trading with Asian currencies:

“The Taiwan dollar had firmed a little bit by the end of yesterday compared to its opening level, and that was generally the pattern around the region,” said David Cohen, an economist at Action Economics in Singapore. “After the failure to pass that package on Monday by the U.S., it really sent people running to the hills everywhere. Now there’s a sense of calm returning.”

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