dlr

17:15 23Jul09 RTRS-Taiwan dlr gains on risk appetite, c.bank caps gains * Risk appetite grows after strong U.S. corporate earnings * Central bank buys U.S. dollars to curb local currency gains * Taiwan dlr range seen between T$32.8 and T$33.0 on Friday (Updates to close) TAIPEI, July 23 (Reuters) - The Taiwan dollar rose on Thursday as investor risk appetite grew following strong U.S. corporate earnings, tracking the momentum of other Asian currencies, but the island's central bank curbed gains. The Taiwan dollar , which has been trending higher over the past two weeks, started off weak early in the session on Thursday but strengthened later. "The Taiwan dollar rose as investors' risk appetite increased on robust U.S. home prices and as it took cues from the rising South Korean won," said a dealer in Taipei. In global markets, the U.S. dollar hovered near a seven-week low against key currencies as home prices and steady domestic stock markets offset weak bank earnings. [ID:nT122018] But the central bank bought U.S. dollars throughout the session to keep the currency from firming too much, dealers said. The authority keeps the Taiwan dollar in a managed float but recently has pushed it lower to help the island's recession-strapped exporters. The Taiwan dollar has gained more than 1 percent since mid-July as improvement in U.S. earnings has boosted market sentiment in emerging Asia, where many economies rely on exports to key markets such as the United States. Exporters took advantage of the weaker dollar earlier in the session to convert forex holdings into more Taiwan dollars. Dealers expect the Taiwan dollar to trade mainly between T$32.8 and T$33.0 on Friday. 0800 GMT PREVIOUS DAY T$ (Taipei Forex Inc) 32.802 32.875 Volume in $ mln (Taipei Forex Inc) 602 604 T$(Cosmos) 32.797 32.870 Six-month NDFs -0.500/-0.450 -0.500/-0.460 Note: Taipei Forex Inc is Taiwan's main forex exchange; Cosmos is a smaller exchange. Both markets close at 0800 GMT. Source: NDFs quotations from Prebon Asia For more foreign exchange news, please click [nTOPFRX] (Reporting by Roger Tung and Joan Hsu; Editing by Jacqueline Wong) ((chyenyee.lee@thomsonreuters.com; +886 2 2508-0815; Reuters Messaging: chyenyee.lee.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) Keywords: MARKETS TAIWAN CURRENCY/
For Related News, Double Click on one of these codes:[M] [T] [Z] [MF] [RNP] [DNP] [PTD] [PMF] [TW] [ASIA] [FRX] [EMRG] [LEN] [RTRS] [TWD/] [TWD=TP] For Relevant Price Information, Double Click on one of these codes: Thursday, 23 July 2009 17:15:51RTRS [nTP287144] {EN}ENDS