USD/MYR opened higher, but has eased.....>

DOLLAR-MYR: USD/MYR opened higher, but has eased off thereafter and last trades

-5 pips at MYR4.2900. The initial strength stemmed from broader risk-off flows

coupled with rating action. As a reminder, S&P revised the outlook on Malaysia's

A- credit rating to negative from stable after hours on Friday. That said, a

recovery in risk appetite exerted some pressure on the pair, allowing it to shed

earlier gains.

- Malaysia's ex-PM Mahathir declared his support for Datuk Seri Shafie as a

candidate for Prime Minister, following a period of infighting between

opposition parties over their joint nominee to challenge current PM Muhyiddin.

- On a different note, Malaysian stock mkt regulators extended short-selling

suspension until the year-end.

- Bulls look to attack the 50-DMA at MYR4.3186, which would open up scope for

further gains. Bears need a fall through Jun 23 low of MYR4.2662, which would

expose Jun 11 low of MYR4.2360.

- Malaysia's Markit M'fing PMI comes out on Wednesday, with trade balance coming

up on Friday.