Taiwan dollar pulls back

The Taiwan dollar rebounded on Tuesday from a central bank move to soften it in the previous session but quickly lost ground on US dollar buying as the Greek debt crisis loomed bigger, dealers said. Foreign funds were also net sellers of Taiwan stocks on Tuesday, offloading T$2.69 billion ($80 million). Exporters kept the Taiwan dollar's fall in check by buying it for cash needs at home, dealers said.
Taiwan's central bank, keen the keep the local currency in a managed float and stop speculation in the forex market, had bought US dollars on Monday, dealers said. The Taiwan dollar had climbed 0.67 percent this year but remained among the worst performers in Asia.