The US Dollar remains undecided against the Ringgit on Monday and is trading at 4.4830. The sentiment of indecision comes amid negotiations for the purchase of Credit Suisse by UBS. The crisis of confidence in the banking system is viewed with caution by all markets around the world, while Switzerland makes a historic intervention to facilitate the transaction between UBS and Credit Suisse. From Malaysia, Trade Balance data came in higher than expected, signalling a possible appreciation of the MYR against the Dollar. There is an interest rate decision for the USD on Wednesday, and this is by far the most important news of the last few weeks. It is possible that the market will be a little lateralized by then. From a technical point of view, USDMYR is in a flat position. If the price manages to break above 4.5300, it could resume the bullish move and continue moving up to 4.5800 in a few days. On the other hand if the price falls below 4.4640, it could drop as low as 4.3650 in a few days.
