USD/IDR: No changes to the consolidative theme – UOB

Market news

24 July 2023

USD/IDR: No changes to the consolidative theme – UOB

USD/IDR faces some consolidation in the short-term horizon according to Markets Strategist Quek Ser Leang at UOB Group.

Key Quotes

Our expectations for USD/IDR to weaken last week was incorrect as it rebounded to a high of 15,032. The rebound lacks momentum and USD/IDR is unlikely to rise much further. This week, USD/IDR is more likely to trade sideways between 14,945 and 15,090.

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