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Indonesia's central bank governor said rupiah weakness reflects global dollar strength driven by rising US bond yields and expectations of three Fed rate hikes this year, along with US-China trade tensions. Bank Indonesia has intervened heavily in FX and government bond markets to stabilize the currency, and the rupiah is down 2.35% year to date.
Persistent rupiah depreciation raises the local-currency cost of imported feed ingredients for Indonesian buyers. Central bank intervention may limit the pace of decline but not the underlying dollar strength.
liputan6.comIlyas Istianur PradityaApr 24, 2018Not 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.
