During early Asian deals on Wednesday, the Taiwan dollar weakened to a 1-week low of 33.9075 against the U.S. currency. On the downside, 33.951 is seen as the next target level for the Taiwan dollar. The pair was worth 33.6170 at Tuesday's close.

In economic news, Taiwan's exports plunged 35.7 percent year-on-year in March to US$15.59 billion, the Finance Ministry said yesterday. The decline was close to analysts' expectations for a 35.3 percent fall and it was the seventh consecutive month of decline. Total imports amounted to US$12.17 billion, down 49.5 percent over the same month of last year, sharper than the expected 44.5 percent decline, resulting in a trade surplus of US$3.41 billion in March.

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