SINGAPORE (May 10): Malaysia’s ringgit is set for a second weekly decline as investors await industrial production data to gauge the outlook for the economy.
* USD/MYR has gained 0.3% this week to 4.1530 after rising to a four-month high of 4.1550; pair is little changed Friday
** Ringgit has fallen this week as the central bank cut interest rates Tuesday for the first time since 2016
* Industrial production probably climbed 2.3% in March from a year earlier, after rising 1.7% in February, according to a Bloomberg survey before data due at noon local time
* Malaysia’s government will take legal action against Goldman Sachs over the “too high” fees charged by the investment bank when it arranged bond sales for state fund 1MDB
* Nation’s 10-year bond yield little changed at 3.80%