Taiwan dollar hits 27-month high

The Taiwan dollar hit a 27-month closing high on Thursday,tracking gains in regional currencies as fund flows chased yield,but central bank intervention pared its gains from earlier higher levels.

Taiwan8217;s central bank has intervened in the market heavily in recent sessions as a surge in recent sessions threatened to hurt exporters.

The local currency ended up T0.09,or 0.289 per cent to T31.042,its highest level since early August 2008,after being pulled back from a day high of T30.675 or almost a 1.5 per cent gain.