KUALA LUMPUR (Sept 14): Ringgit heads for its first weekly gain in three months as crude prices rally and the dollar surrenders recent gains.

* USD/MYR falls 0.1% Friday and this week to 4.1420; pair had risen 4% over previous 12 weeks ** Support 4.0900, 4.0829, 4.0413; resistance 4.1535, 4.1645, 4.2437

** Brent crude has climbed 2% since Sept. 7 

* EM FX received a boost after week U.S. CPI data damped the greenback and Turkey delivered a bigger-than-expected rate hike, says Mitul Kotecha, senior emerging-markets strategist at TD Securities in Singapore

** Dollar looks a bit stretched and downside risks for the greenback are emerging

* MYR will strengthen further once issues involving the previous government, such as the 1MDB scandal, are resolved, Finance Minister Lim Guan Eng said in a statement Thursday

* Police are investigating bond sales and transactions by institutions linked to 1MDB, deputy inspector general Noor Rashid Ibrahim said Thursday

* Former Goldman Sachs President Gary Cohn backed the bank’s dealings with 1MDB while executives who questioned the transactions were sidelined, according to a book written by Wall Street Journal reporters

* Ringgit is expected to weaken amid global risks but the pace of decline will be measured, United Overseas Bank senior economist Julia Goh wrote in note Thursday

** MYR will be supported by a healthy FX reserve ratio, rising energy prices and Malaysia’s current-account surplus 

* Malaysia’s 10-year bond yield rises 2bps to 4.13%