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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 econ worries, corporate outlook Reuters - Monday, April 20 * Taiwan dollar slips ahead of financial results in the U.S. ADVERTISEMENT * Intervention seen if TWD weakens past T$33.9, dealers say TAIPEI, April 20 - The Taiwan dollar weakened in early trade on Monday, set for its fifth straight session of losses, as investors bought U.S. dollars as a safe-haven ahead of financial results in the United States this week. The Taiwan dollar <TWD=TP> slipped to an intraday low of T$33.955 in early trade, but later pared some losses to trade at T$33.889 at 0128 GMT, weaker than Friday's close of T$33.816. Volume on the main Taipei Forex Inc exchange was thin at $66 million after 30 minutes of trade, but higher than the $48 million recorded on Friday. "The U.S. dollar has been rebounding very strongly in most markets," said a dealer in Taipei. "Put together with a central bank that wants a weakening Taiwan dollar and some profit-taking on the stock market, that's why it weakened today." Taiwan stocks <.TWII> fell more than 1 percent about 30 minutes into trade, weighed down by technology shares. Dealers said the Taiwan dollar was also pressured by some investors pulling their money out of the equities market ahead of a torrent of earnings in the United States this week. "We're seeing some profit-taking pressure in the stock market, so that'll also affect the Taiwan dollar when people start selling stocks," said another dealer. "But the central bank is unlikely to allow the Taiwan dollar to weaken so much, so they might intervene at around T$33.900." On the smaller Cosmos exchange <COSMOS1>, the Taiwan dollar was trading at T$33.885, weaker than Friday's close of T$33.805. (Reporting by Kelvin Soh and Jeanny Kao; Editing by Chris Lewis) Email Story IM Story Printable View Blog This Recommend this article 0 users recommend Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Creston FY sales, earnings above mkt view; debt fallsReuters - 43 minutes ago Peter Hambro earnings miss consensus, drops dividendReuters - 43 minutes ago China's wind-power boom to outpace nuclear by 2020Reuters - 45 minutes ago Saudi Aramco, Sumitomo to study Rabigh expansionReuters - 48 minutes ago Hitachi says outlook tough, mulling state fundsReuters - 50 minutes ago Most Popular – Business Viewed Police nab Norwegian pair during high-speed sex 'Beginner's luck' may lay trail to Cleopatra tomb Mummies found in ancient Egypt burial chamber 'Dracula bandit' gets 20-yr jail sentence New-look auto sector could emerge from crisis 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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