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The rupiah strengthened against the US dollar on Nov 28 as markets anticipated the Federal Reserve would stop raising rates. US new home sales for October fell 5.6%, below forecasts, and the Dallas Fed manufacturing index also declined.
The dollar index eased to about 103.15, and the rupiah closed up 0.38% at Rp 15,436 per dollar.
A firmer rupiah lowers the local-currency cost of dollar-priced feed imports into Indonesia. The gain depends on Fed expectations, so it is a limited, short-term effect on feed ingredient prices.
investor.idGrace El DoraNov 28, 2023Not 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.
