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The rupiah strengthened 0.59% to about 14,921 per US dollar on July 28, 2022, moving away from the 15,000 level. Market analysts attributed the gain to expectations that the Fed would slow the pace of its rate hikes, which weakened the dollar index.
A firmer rupiah lowers the local-currency cost of imported feed ingredients, while a softer dollar index generally supports dollar-denominated commodity prices.
money.kompas.comRully R. RamliJul 28, 2022Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
