Halister News

(Bloomberg) -- Ringgit falls for a fifth day in its longest-losing streak since November as the U.S., Singapore and Switzerland authorities seized assets and widened their 1MDB-related probes. Bonds gain.

• Swiss authorities seized Monet and Van Gogh works after the U.S. sent requests on July 20 as part of the probe into money-laundering and misappropriation involving 1MDB
  • Resurfacing 1MDB controversy to undermine MYR and provide support to USD/MYR in coming sessions, Scotiabank writes in note today
  • Ringgit decline isn’t as bad as other currencies: PM Najib said late yday. Najib also said the govt will cooperate with other investigative agencies
• Ringgit declines 0.3% to 4.0502 per dollar, according to onshore prices
• Yield on 3.9% govt bond due Nov. 2026 falls 4 bps today to

3.642%, still up 7 bps on week,, according to Bursa Malaysia prices

• USD/MYR -- extending gains above 100-DMA, eyeing Fibonacci resistance
  • Resistance: 4.0720, June 29 high; 4.0760, 61.8% Fibo retracement of drop from June 24 to July 15; 4.1272, June 28 high
  • Support: 4.0226, 100-DMA; 3.9725, July 19 low; 3.9672, July 15 high
• Malaysia will release foreign reserves data for the fortnight ending July 15; nation’s holdings amounted to $97.2b as of June 30.