Taiwan Dollar Rises on Central Bank Purchase; Stock Inflows Benefit Asia

(Bloomberg) -- Taiwan's dollar reversed an early loss
to notch up its biggest gain since June 22 on speculation the
central bank bought the currency to stem an outflow of capital.

Investors have been borrowing the currency at the island's
second-lowest interest rate in Asia after Japan to invest in
higher-yielding assets abroad. The currency has weakened along
with the yen over the past 12 months as the currencies are
favorites for the carry trade.


Read more at Bloomberg Currencies News