(Bloomberg) -- Taiwan's dollar weakened, reversing
appreciation that had sent it to the highest in almost six
months, on speculation investors will buy the U.S. currency to
invest abroad for higher returns. Local bonds declined.
The island's currency also fell on speculation oil
companies are demanding more U.S. dollars as crude prices trade
near a 10-month high. Investors have shifted funds overseas as
Taiwan's benchmark interest rate of 3.125 percent is the second-
lowest in Asia after Japan, making local bonds and deposits
unattractive and weighing on the currency.
Read more at Bloomberg Currencies News
appreciation that had sent it to the highest in almost six
months, on speculation investors will buy the U.S. currency to
invest abroad for higher returns. Local bonds declined.
The island's currency also fell on speculation oil
companies are demanding more U.S. dollars as crude prices trade
near a 10-month high. Investors have shifted funds overseas as
Taiwan's benchmark interest rate of 3.125 percent is the second-
lowest in Asia after Japan, making local bonds and deposits
unattractive and weighing on the currency.
Read more at Bloomberg Currencies News
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