Malaysia Ringgit Up Before Thursday Rate Decision

        0148 GMT [Dow Jones] USD/MYR, currently at 3.2460, will take on a bearish technical bias if it closes Wednesday close below 3.2390. Broad U.S. dollar weakness overnight is weighing on USD/MYR, bringing the April four-month low of 3.2155 into sight. The U.S. dollar has been on the decline since last Friday's U.S. nonfarm payrolls, which sank the benchmark U.S. Treasury yield to 6-month lows. Most analysts expect the Malaysian central bank to keep its benchmark interest rate unchanged at a Thursday policy meeting, as a spike in inflation recently was mainly due to subsidy cuts. A minority thinks the central bank, known to be proactive in rate-setting, may hike the interest rate by a quarter of a percentage point to 3.25%. USD/MYR is now 3.2460 from its last close of 3.2505. (ewen.chew@wsj.com)
        (END) Dow Jones Newswires

        May 06, 2014 21:48 ET (01:48 GMT)