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The rupiah strengthened on October 28 on hopes that the US and China would advance their phase-one trade deal, with a signing expected at APEC in Chile in November. Expectations of a Fed rate cut also weighed on the dollar.
Bank Indonesia had cut its benchmark rate to 5.00%.
Progress on the US-China deal supports demand for US farm exports and lifts emerging-market currencies. A firmer rupiah lowers the local cost of imported feed ingredients.
infobanknews.comSuheriadiOct 28, 2019Not 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.
