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The rupiah weakened against the dollar after the June FOMC meeting signaled two more 25 basis point Fed rate hikes by year-end. Analyst Lukman Leong said the hawkish stance could strengthen the dollar in coming weeks.
A stronger dollar after hawkish Fed signals raises the local cost of imported feed ingredients for Indonesian buyers, while the effect on global grain prices is limited.
investor.idGrace El DoraJun 15, 2023Not 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.
