Ringgit halts four-day loss before output data

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KUALA LUMPUR (June 11): Ringgit advances for first time in five days ahead of data forecast to show Malaysian industrial production growth accelerated in April.

* USD/MYR declines 0.1% to 3.9833

** Support 3.9430, 3.9246, 3.8533; resistance 4.0060, 4.0155, 4.0497

* Factory output +4.4% in April y/y vs +3.1% in March: Bloomberg survey ahead of data due at noon local time

* Ringgit will likely weaken this week, with the Federal Reserve expected to maintain a gradual tightening and the European Central Bank set to debate an exit to QE, says Gao Qi, a currency strategist at Scotiabank in Singapore

** Next key level to watch for USD/MYR is 4

* USD/MYR could breach 4 if the U.S.-North Korea summit fails or either the ECB or Fed is more hawkish than expected, Stephen Innes, head of Asia Pacific trading at Oanda Corp. in Singapore, writes in note

* 10-year govt bond yield rose 3bps to 4.23% Friday

* Malaysia may overhaul its social safety net by creating a fund that pays out basic income to the poor, said Daim Zainuddin, a top adviser to PM Mahathir Mohamad

* Mahathir called for a revision of the Trans-Pacific Partnership to protect the interests of small and weaker economies, the Nikkei Asian Review reported on Saturday

* Cabinet ministers, their deputies and secretaries will be required to declare their wealth to the PM, who will then submit report to anti-graft agencies: Mahathir