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Bank Indonesia said the rupiah's sharp fall past 13,600 per dollar on February 8 was a normal market adjustment. Traders had raised their forecasts for Fed rate hikes this year from two or three to three or four, after strong US labor data, higher inflation expectations and rising Treasury yields.
Bond yields also rose after US budget deficit spending was approved.
Expectations of faster US rate hikes pull capital out of emerging markets and raise the rupiah cost of imported feed inputs. The adjustment shows how quickly currency pressure can build ahead of Fed decisions.
en.antaranews.comantaranews.comFeb 8, 2018Not 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.
