USD/MYR Lower; 2.9700-2.9900 Range Eyed

The USD/MYR is a tad lower at 2.9790 from 2.9870 late Tuesday tracking stronger Asians against the greenback as risk appetite improves. A local dealer says trading has been thin but "we think the pair will move lower in the near-term as there appears to be continued demand for higher yielding Asian currencies such as the ringgit" with economic fundamentals in the region still robust, he says. The dealer tips a 2.9700-2.9900 range Thursday.