Excerpt from: Forex Analysis
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| April 11, 2008 | | Currency trading on the FX market | Asian currencies are expected to move in tight ranges against the US dollar today. Forex trading strategy should consider this.
In currency trading on the FX market, many of the Asian currencies are tightly regulated, and yesterday's big gains would have inspired some capping of gains. The Malaysian National News Agency reports on the Malaysian ringgit:
One of the dealers said there was a possibility that Bank Negara Malaysia intervened to cap the ringgit's gains.
"Throughout the day, the ringgit was moved within a tight range of 3.15 against the US dollar. It did not go far," she said.
| Topic Tags: Asian currencies, currencies forex trading, currency trading, currency trading FX market, forex trading strategy, Malaysian ringgit, US dollar, US dollar forex trading | |
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