According to Quek Ser Leang at UOB Group’s Global Economics & Markets Research, USD/IDR is still expected to navigate within the 14,2409-14,410 range for the time being.

Key Quotes

“We did not expect the sharp drop in USD/IDR to 14,240 last Thursday. However, the decline was short-lived as USD/IDR rebounded strongly from the low. The sharp but short-lived swings have resulted in a mixed outlook.”

“Further choppy price actions would not be surprising this week but USD/IDR is likely to stay between the two major levels of 14,240 and 14,410.”