Further consolidation is seen around USD/IDR – UOB

In opinion of Quek Ser Leang at UOB Group’s Global Economics & Markets Research, USD/IDR is now seen within the 14,400-14,530 range.

Key Quotes

“USD/IDR traded between 14,450 and 14,549 last week, narrower than our expected consolidation range of 14,395/14,550.”

“We continue to view the movement as part of a consolidation phase even though the slightly weakened underlying tone suggests that USD/IDR is likely to trade within a lower range of 14,400/14,530.”