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The Indonesian rupiah closed weaker at 14,903 per US dollar on June 30, 2022, extending losses. The move followed hawkish remarks from Fed Chair Jerome Powell, who said inflation was the main risk, and Cleveland Fed President Loretta Mester backed a 75 basis point hike.
A stronger dollar on Fed tightening raises the local-currency cost of imported feed inputs and US-dollar priced commodities for Indonesian buyers, supporting upward pressure on feed costs.
antaranews.comCitro AtmokoJun 30, 2022Not 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.
