The USD/MYR extends its morning session losses, now at 3.0780 vs 3.0800 earlier, and after gains in the EUR/USD following the German court's decision on the legality of the euro-zone's bailout facility; dealers say that although the court's approval was widely-expected, the ringgit will likely gain from rises in Asian currencies. "There's going to be a knee-jerk reaction since the USD/MYR has been falling all day...bids are now around 3.0750-3.0780 and if the FOMC delivers another round of stimulus as expected, next support is probably at 3.0500," he adds.
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