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(From China Post)
The U.S. dollar finished the last session before the Chinese New Year holiday on Feb. 5 at NT$31.68, a marked drop from NT$31.802 at the close of the previous week.
Seasonal demand for the local currency, sales of the U.S. dollar by local exporters, and inflows of foreign stock funds combined to have pushed up the local unit in final sessions before the holiday.
As trade resumes tomorrow, traders said speculation that China will allow its yuan to rise will attract more speculative money into the region, which may drive up the Taiwan dollar.
In a communique China signed with the Group 7 countries earlier this week, Beijing …