Taiwan dollar weakens

The Taiwan dollar weakened slightly on Friday in thin trade as caution crept into the market ahead of key interest rate meetings next week in the United States and Taiwan. The Taiwan dollar closed at T$33.071 to the US dollar, weaker than the previous close of T$33.066.
"It was range trading today, as the market players were sidelined ahead of the Fed meeting and Taiwan's own central bank rate-setting meeting," said one Taipei dealer. The US dollar tumbled to record lows versus the euro this week on widespread expectations the Federal Reserve will lower rates by 25 or 50 basis points from 5.25 percent at next Tuesday's policy meeting, to help stem an economic slowdown.
The dollar's trade-weighted index against six major currencies rose slightly to 79.560 on Friday, having plumbed a 15-year low of 79.302 the previous day.