News Snapshot:
Taiwan punishes foreign banks in speculation case, sources say By Liang-sa Loh TAIPEI, Feb 5 (Reuters) - Taiwan's central bank on Friday told four foreign banks they would be suspended from trading in the deliverable forwards foreign exchange market for their role in helping grains firms speculate against the Taiwan dollar, three sources with direct knowledge of the matter said. The Taiwan dollar is at a more than 23-year-high against the greenback as the island's trade-dependent economy booms on the back of global demand for its tech products. The central bank has tried using "moral persuasion" to slow the currency...
