Dollar against the Malaysian ringgit movements comments September 6, 2010

Dollar against the Malaysian ringgit movements comments September 6, 2010
USD/MYR down at 3.1120, fresh 13-year low, vs 3.1200 late Friday. Dealers say combination of factors including improved risk appetite, gains in other regional currencies, likely continued rally in local equity market, better-than-expected U.S. jobs data adding to bullish sentiment on MYR. 'We have not seen any real profit-taking pressure coming in yet, which suggests the pair could have room to head further downwards,' dealer says; tips immediate support at 3.1000. Dealers say participants on look-out for possible central bank intervention, though as is usually case, any moves likely meant only to smooth flows, won't alter trend.