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USD sees loss against NT

16th September 2011

The US dollar (USD) fell in trading on the Taipei forex against the Taiwanese dollar (NT) to close out nine days of gains on Friday (September 16th).

USD opened at NT$29.635, but the currency lost steam as soon as forex trading opened for the day following significant gains in Europe after banks in Europe, the US and Japan announced they would pour vast amounts into the Europe in order to shore up failing economies.

Turnover for USD/NT trading totalled $928 million for the day, with USD dropping as low as NT$29.516 at one point, before the central bank stepped up to shore up the losses, with the currency closing at NT$29.584 - down by NT$0.051 for the day.

Yesterday was also particularly punishing for the dollar against the Australian dollar, with USD dropping to a five-week low against the currency at falling to AUD1.0184, before rallying late in the day to finish at 1.0234.
 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.