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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Taiwan dollar slips on outflows, importers Reuters - Monday, May 18 * Taiwan dollar slips in thin trade ahead of GDP this week ADVERTISEMENT * Dealers expect Taiwan dollar to remain flat on Monday TAIPEI, May 18 - The Taiwan dollar weakened on Monday pressured by fund outflows, importer deals and falls in regional currencies, but trade was thin as some investors stayed away ahead of key economic data this week. The Taiwan dollar <TWD=TP> fell to a low of T$33.150 in early trade, its weakest intraday level since May 7, but quickly pared those losses to trade at T$33.000 by 0144 GMT. This was weaker than Friday's close of T$32.950. Volume on the main Taipei Forex Inc exchange was thin at $173 million after an hour of trade, but still higher than the $164 million in the previous session. "We started getting some orders when the local currency fell below T$33," said a dealer in Taipei. "There're just some investors out there who see it as a psychological benchmark to enter the market." The Taiwan dollar also chose to take its cue from regional currencies like the South Korean won <KRW=>, as a dip in regional stocks led to a boost in demand for currencies traditionally seen as safe havens. Dealers also said some investors chose to stay on the sidelines, waiting for better clarity ahead of Taiwan's first-quarter GDP data, which will be released later this week. "Trade was generally thin today, with some investors choosing to stay away until GDP is released," said another dealer. "I think we should be looking at about T$33 as the support level today." On the smaller Cosmos exchange <COSMOS1>, the Taiwan dollar was trading for T$33.006, weaker than Friday's close of T$32.909. (Reporting by Kelvin Soh and Argin Chang, Editing by Jacqueline Wong) Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: Business India's Congress cements power as markets surgeReuters - Monday, May 18 Baidu in talks with workers on strike over pay -WSJReuters - Monday, May 18 Brazil to help Saudi Arabia with food suppliesReuters - Monday, May 18 New Tom Hanks thriller fails to crack 'Code'Reuters - Monday, May 18 German Opel trustee plan has not failed, Merkel saysReuters - Monday, May 18 Most Popular – Business Viewed Popular cereal is a drug, US food watchdog says Astronauts to embark on last Hubble spacewalk Coral Triangle could die by century's end: WWF British store admits it boobed in bra row Australian zoo evacuated after orangutan escape View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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