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The rupiah is sliding to all-time lows despite a surprise 50 basis point rate hike by Bank Indonesia. Analysts link the weakness to surging US bond yields, a strong dollar, Middle East tensions and fears that easy money is ending.
Markets showed little reaction to the rate hike.
A broad emerging-market sell-off driven by a strong dollar and higher US yields raises dollar funding costs and can cut demand for dollar-priced commodities in import-dependent Asian markets.
fxstreet.comPablo PiovanoMay 22, 2026After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
