- USD/IDR: Break above 14,425 may trigger stronger verbal interventions from BI – TDS
Market news
23 August 2023
USD/IDR: Break above 14,425 may trigger stronger verbal interventions from BI – TDS
Economists at TD Securities analyze USD/IDR outlook ahead of Thursday’s Bank Indonesia meeting.
USD/IDR in an uptrend channel since early May
We expect Bank Indonesia to leave its 7-day reverse repo rate at 5.75%, extending its pause since February.
USD/IDR has been in an uptrend channel since early May and a break above the channel highs of 14,425 may trigger stronger verbal interventions from BI.
We think this USD strength may continue as liquidity is typically poor amid summer months and prefer to stay clear of the USD.
Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimerOpen Demo Account & Personal Page