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Bank Indonesia said the recent weakening of the rupiah was driven by a stronger US dollar, following Fed Chair Yellen's hawkish remarks and the Trump administration's tax reform plan. The rupiah fell about 0.45 percent against the dollar, still doing better than the yen.
A weaker rupiah raises the cost of imported feed inputs for Indonesian buyers, such as soybean meal and corn, which are priced in dollars.
antaranews.comIndra Arief PribadiSep 28, 2017Not enough comparable past events yet for a historical read.
After 44 past bullish macro events, Soybean Meal moved a median -0.6% over 5 sessions (34% higher; middle half -1.9% to +0.9%), and -2.9% 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.
