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The Indonesian rupiah fell as much as 0.5% to 16,165 per dollar, its weakest since May 2, as higher US Treasury yields lifted the dollar. Most Asian currencies were set for monthly losses after resilient US data pared Fed rate-cut bets.
A weaker rupiah and stronger dollar raise the local-currency cost of imported feed ingredients for Indonesia, while a firm dollar generally pressures dollar-denominated grain and oilseed prices.
brecorder.comReutersMay 30, 2024Not enough comparable past events yet for a historical read.
After 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.
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.
