KUALA LUMPUR (Sept 25): Ringgit falls first time in four days as the dollar’s overnight gains outweigh a jump in crude prices.
* USD/MYR rises 0.1% to 4.1325; next resistance seen at 4.1535, Sept. 12 high
** Brent crude +0.2% to $81.36 after reaching highest in almost four years on Monday
** Bloomberg Dollar Spot Index is steady after advancing 0.5% in previous two sessions
* USD/MYR is expected to trade within range of 4.1222–4.1350, according to AmBank in daily note
** EM Asia may experience some jitters as a result of increased volatility in India’s financial market, although there’s little likelihood of contagion for now
* Federal Reserve policy review and U.S.-China trade war will be key drivers of EM Asia FX this week, says Masakatsu Fukaya, an emerging-market currency trader with Mizuho Bank in Tokyo
** If Fed decision has a hawkish tilt, U.S. rates may break topside and fuel pressure on emerging markets
* Malaysia’s 10-year govt bond yield gains 2bps to 4.11%
* Govt to sell 3-1/2-year Islamic bonds by month-end, according to auction calendar
* Nazir Razak, the brother of Malaysia’s former PM, will step down as chairman of CIMB Group, the country’s second-largest bank, by the end of this year