USD/TWD Off Lows On Central Bank Dollar-Buying

The USD/TWD is off earlier lows after Taiwan's central bank was spotted buying dollars around 29.950 in the late session, two traders say. The pair is at 29.978, bouncing back from an intraday low of 29.880 but remains lower than 29.995 in late Asian trade Tuesday. One of the traders tips the pair to hover in the 29.90-30.00 region Thursday, with markets keeping an eye on developments in Europe. Taiwan's onshore FX market will remain open on Thursday and Friday, while the local stock and bond markets will be closed two days ahead of the Chinese New Year holiday