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The rupiah closed at Rp 15,437 per US dollar on March 8, weakening as the dollar index rose to a three-month high. The move followed Fed Chair Powell's congressional testimony signalling larger rate hikes than markets expected.
Expectations of tighter US policy strengthen the dollar against emerging-market currencies, raising the rupiah cost of imported feed inputs. The effect on Indonesian feed buyers is a modest upward cost pressure.
market.bisnis.comMutiara NabilaMar 8, 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.
