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The rupiah closed flat against the dollar after an early gain from apparent Bank Indonesia intervention. Markets were bracing for the Fed's hawkish signal that a rate hike could come in March, with US 10-year yields and the dollar index rising sharply.
A stronger dollar and rising US yields pressure emerging-market currencies, raising the local cost of imported feed. This reinforces weakness in the rupiah.
cnbcindonesia.comPutu Agus PransuamitraJan 27, 2022Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, DXY 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.
