(July 20): Ringgit dips from a one-month high as EM currencies in Asia get mildly sold down, ahead of central bank meetings in Japan and Europe Thursday.
* USD/MYR little changed at 4.2855; reached 4.2815 Wednesday, lowest since June 20.
** Support 4.2810, 4.2663, 4.2505; resistance 4.2940, 4.3337, 4.3525
* Ringgit will get a boost from further inflows into Malaysian bonds, as a combination of capped U.S. interest rates and relatively low volatility encourage a reach for yield, says Stephen Innes, a senior Asia-Pacific currency trader at Oanda in Singapore.
** Sees USD/MYR testing 4.25 on a dovish Fed outlook
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.