Twisting give you "common mode rejection", meaning if an interfering signal gets into the wires (like something near the wires) the physics says that they can reject this signal... because the electrons in the 2 wires are running in the opposite directions, if an interfering signal gets into the wires, what is on one wire becomes the inverse of the other wire (due to the opposite flow of current between the wirs) and the interfering signal can be cancelled out to an extent.
Shorter explanation, can reduce noise on wires, that is why phone cable is twisted, and why Ethernet wires are twisted.
Does not eliminate all noise but can help.
Greg