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Ringgit set for weekly loss amid stock outflows

Ringgit set for weekly loss amid stock outflows

KUALA LUMPUR (June 22): Ringgit heads for its biggest weekly decline since February as global funds sell Malaysian stocks and global trade tensions escalate.

* The currency is finding some support Friday as oil prices rise after OPEC and its allies reached a preliminary deal that may result in a smaller actual increase

* USD/MYR drops 0.1% to 4.0120 Friday, paring its weekly advance to 0.7%

** Support 3.9825, 3.9448, 3.9430; resistance 4.0379, 4.0477, 4.0920

** Traders will focus on the OPEC meeting Friday

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