Taiwan dollar hits one-year high

The Taiwan dollar hit a one-year closing high on Thursday on foreign fund inflows and exporter deals, as better-than-expected Australian jobs data helped boost investor appetite for riskier assets. The central bank bought US dollars to keep the value of the local currency stable above T$32.100, helping exporters who may be hit by a rising Taiwan dollar, traders said.
"Foreign investors have been selling their US dollars, as they are anticipating a further rise in Asian currencies," said a dealer in Taipei. Turnover on the main Taipei Forex Inc exchange was moderate, as some investors stayed away ahead of the European Central Bank's rate decision later in the day.