0223 GMT [Dow Jones] The USD/MYR is slightly lower at 3.1925, from 3.1950 late Monday in Asia, but dealers say risk aversion remains high in the market ahead of the EU summit this week; the pair earlier hit a high of 3.1960 and is facing heavy resistance at 3.2000 on the back of selling activity from foreign banks, says a local dealer. "There're plenty of sellers for pure profit-taking in the market met by a good amount of corporate demand buying for USD month-end settlement," says another dealer; he tips the pair to continue testing resistance at 3.2000 in the near term. (jason.ng@dowjones.com)
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(END) Dow Jones Newswires
June 25, 2012 22:23 ET (02:23 GMT)
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