The New Taiwan dollar on Friday rose against the US dollar, gaining NT$0.043 to close at NT$30.802, with turnover totaling US$550 million during the trading session.
That compared with a close of NT$30.708 on Aug. 10.
The NT dollar opened at the day’s low of NT$30.820 and moved to a high of NT$30.761 before rebounding.
Elsewhere on Friday, the US dollar fell against a basket of peers amid lower demand for the safe-haven greenback, as traders hoped next week’s trade talks between the US and China would ease tensions between the two countries.
Easing worries over the fallout from a recent slide of the Turkish lira also helped strengthen the euro against the US dollar.
The US dollar index, which measures the greenback against a basket of six other currencies, was down 0.33 percent at 96.327, on pace for its third straight day of declines. The index remained just shy of the more than 13-month high of 96.984 hit on Wednesday.
“There was considerable risk aversion through the early part of the week, with fears of Turkish contagion weighing on risk assets, and that seems to have reversed somewhat here,” Cambridge Global Payments strategist Karl Schamotta said in Toronto.
The plunge by the lira and concerns over China’s economic health hit emerging-market currencies this week, boosting the US dollar.
The lira on Friday snapped a three-day rebound, sliding more than 5 percent against the US dollar on worries about the threat of more US economic sanctions unless Turkey hands over detained US evangelical pastor Andrew Brunson.
Next week’s lower-level trade talks between China and the US offer some hope that the two countries will find a way to head off a full-blown trade war.
“Although the chances of a breakthrough deal from lower-level talks are seen as unlikely, the meeting could be a positive step towards easing trade tensions between the world’s two largest economies,” London-based futures brokerage FXTM research analyst Lukman Otunuga said in a note.
The euro rebounded from a more than 13-month low touched earlier this week and was 0.22 percent higher at US$1.14.
The common currency came under pressure over the past few days as investors fretted about eurozone bank exposure to Turkey.
The Japanese yen and the Swiss franc, which tend to rise in times of geopolitical and financial tensions, were higher on Friday.
“There has been a flight to safety through the week that lifted both these currencies up and is keeping both of them stable,” Schamotta said.
The Canadian dollar gained against its US counterpart after the country’s annual inflation rate accelerated by more than expected, increasing prospects that the Bank of Canada might raise interest rates next month.
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