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The rupiah sank to a four-year low against the dollar as Indonesian markets reopened after Eid al-Fitr holidays. Expectations that a strong US economy will keep the Fed on hold for longer drove the move.
Currency weakness raises the local-currency cost of imported feed ingredients and can shift Indonesian palm oil and soymeal demand, though the effect on global prices is modest.
reuters.comRae WeeApr 17, 2024Not 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.
