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The rupiah weakened against the US dollar, which an analyst attributes mainly to expectations that the Fed will raise rates at its June 2023 meeting, supported by strong US economic data. The decline was limited by expectations of stronger Indonesian Q2 growth and falling inflation.
Global energy and commodity prices are also trending lower.
A weaker rupiah raises the local-currency cost of dollar-priced feed imports for Indonesian buyers, while softer global commodity prices partly offset that.
antaranews.comM Baqir Idrus AlatasMay 31, 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.
