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The Indonesian rupiah dropped as much as 3 percent to a five-month low of 13,545 per dollar, its biggest decline since September 2011. Bank Indonesia said it intervened to stabilise the market amid speculation that a Trump administration will pursue protectionist trade policies.
A sharp rupiah depreciation raises the local-currency cost of imported feed inputs such as soybean meal and corn for Indonesian buyers. Protectionism fears also add uncertainty to US-Asia agricultural trade flows.
livemint.comLiau Y-Sing, Yudith HoNov 11, 2016Not enough comparable past events yet for a historical read.
After 73 past neutral macro events, Soybean Meal moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +2.1%), and -1.6% over 20.
After 78 past neutral macro events, Corn moved a median +0.3% over 5 sessions (55% higher; middle half -1.1% to +1.6%), and -0.6% 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.
