U.S. dollar down in Taipei trading
The U.S. dollar slipped against Taiwan's currency in early Tuesday trading, a small win for Taiwanese importers and a mild headwind for exporters.
- The dollar opened lower on the Taipei foreign exchange market, giving back a fraction of a Taiwan dollar from Monday's close.
- A stronger Taiwan dollar makes imported goods and overseas travel cheaper for people in Taiwan.
- It squeezes exporters like chipmakers, whose overseas sales are worth less once converted back home.
- Taiwan stocks opened higher the same morning, pointing to steady risk appetite rather than any flight to safety.
Outlook: Expect the currency to keep drifting with dollar sentiment and foreign money flowing into Taiwan's stock market.