The New Taiwan dollar on Friday rose against the US dollar, gaining NT$0.020 to close at NT$29.968.
Turnover totaled US$553 million during the trading session.
The greenback opened at the day’s high of NT$30.010, and moved to a low of NT$29.950 before rebounding.
The NT dollar on Dec. 15 closed at NT$29.992.
Elsewhere on Friday, the euro slipped against the US dollar after Catalan separatists won a regional election, prompting worries about the possible breakup of the eurozone’s fourth-largest economy.
The Spanish government had hoped that the Catalan election would strip pro-independence parties of their control of the regional parliament and end their campaign to force a split.
However, with 96 percent of ballots counted in the vote to elect Catalonia’s regional parliament, separatist parties were forecast to win 70 seats out of 135.
“The euro dipped on the [Catalonia] headline, but it is not obvious that the vote advances the issue one way or the other and the euro found good support on dips,” Toronto-based Bank of Nova Scotia chief foreign exchange strategist Shaun Osborne said.
The euro slid 0.1 percent to US$1.1858, but Europe’s common currency was still up nearly 13 percent this year, on track for its best yearly performance in 14 years.
Analysts said trading volumes were thin ahead of the Christmas holiday, resulting in some volatility.
The US dollar index remained flat at 93.316. For the year, the index was down about 8.5 percent.
“Over the coming months, we see scope for the US dollar to stay within its overall consolidative pattern, while we expect renewed US dollar weakness later next year as global monetary policy trends return as a key FX [foreign exchange] influence,” Wells Fargo & Co said in a research note.
The US bank forecast that other major central banks would resume a gradual shift toward less accommodative monetary policies, narrowing their divergence with the US Federal Reserve, which is in the middle of raising interest rates.
That should point to strength in other currencies, such as the euro and sterling, at the expense of the US dollar, analysts said.
One immediate threat to US dollar bulls was removed on Thursday, as the US Senate approved a bill to fund the federal government through Jan. 19 and avert agency shutdowns ahead of a Friday midnight deadline.
The next step is for US President Donald Trump to sign the bill into law.
US Congress this week also approved the most significant US tax code overhaul in three decades, which is expected to give a short-term lift to already solid economic growth, providing support to the US dollar.
The US dollar was steady against the Japanese yen at ¥113.30.
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