0233 GMT [Dow Jones] The USD/MYR is holding steady at 3.1620 in Asia
after gaining slightly following downbeat U.S economic data but
participants are range-trading ahead of the ECB's policy meeting
Thursday. Dealers say the pair is tracking other Asian currencies in
recovering some of its falls after the EU summit last week. "Being a
laggard, there's downward pressure on the USD/MYR since the EU summit,
but volume is thin as most players are just sticking to the sidelines
for the ECB meeting," says a local dealer. He tips the pair to
consolidate near 3.1600 support for now. (jason.ng@dowjones.com)
Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
(END) Dow Jones Newswires
July 02, 2012 22:33 ET (02:33 GMT)
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