In the view of FX Strategist Quek Ser Leang at UOB Group’s Global Economics & Markets Research, USD/IDR is likely to trade within the 14,825-14,900 range for the time being.

Key Quotes

“Our expectation for USD/IDR to dip below 55-day exponential moving average support last week was incorrect as it popped briefly to 14,900 before pulling back.”

“The outlook for this week is mixed and USD/IDR is likely to trade sideways, expected to be within a range of 14,825/14,990.”