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MUFG expects USD/IDR to stay elevated near-term, forecasting 15,300 at the end of Q2 and 14,700 by year-end 2023. The bank cites narrowing yield differentials, a possible shift in US rate policy and China's reopening.
The forecast implies a weaker rupiah in the near term before gradual appreciation, which affects Indonesian feed import costs. The price impact on feed commodities is limited.
octaafrica.netMar 3, 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.
