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The rupiah closed stronger on Monday, August 30, 2021, at Rp14,370 per US dollar, up 48 points or 0.33%. Traders attributed the move to a dovish speech by Federal Reserve Chair Jerome Powell at the Jackson Hole symposium, which weakened the dollar broadly.
A firmer rupiah lowers the local-currency cost of imported feed ingredients such as soybean meal and corn-based inputs for Indonesian buyers. The effect on global feed prices is small, since the move is driven by dollar sentiment rather than physical supply.
antaranews.comCitro AtmokoAug 30, 2021Not 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.
