Taiwan dollar posts biggest fall this year

The Taiwan dollar posted its biggest fall this year to hit a 17-month intraday low on Thursday, due to local stock losses, foreign fund outflows, and a globally stronger US dollar.The Taiwan dollar weakened by T$0.406, or 1.2 percent, to T$33.396 to the US dollar after two hours of trade - its weakest since May 24, 2007 - compared to Wednesday's close of T$32.990.
"Foreign investors couldn't stop pulling out the market," said a dealer in Taipei. "Many people were buying the US dollar to test how low the Taiwan dollar could go.