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Bank Indonesia Up Today, Spot USD/IDR Reacts To FOMC Decision

IDR

Spot USD/IDR picked up a bid in the wake of yesterday's FOMC MonPol decision, which sent the greenback rallying. The rate last deals at IDR14,338, 100 figures higher on the day, ahead of today's policy announcement from Indonesia's own central bank.

  • A clearance of the 200-DMA at IDR14,363 would bring May 20 high of IDR14,400 into view. Conversely, a pullback under Jun 11 low of IDR14,185 would expose May 10 cycle low of IDR14,145.
  • USD/IDR 1-month NDF last seen at IDR14,411, 48 figures lower on the day. Bears hope for a fall through yesterday's trough at IDR14,255, which would turn focus to Jun 11 low of IDR14,198. Bulls need a push through yesterday's high of IDR14,464, before taking aim at May 19 high of IDR14,474.
  • An official with Indonesia's Ministry of Finance said that Jakarta wants to set up a bullion bank by 2024.
  • The World Bank publishes Indonesia Economic Prospects for the month of June in a webinar today. Finance Ministry's Fiscal Policy Head Kacaribu takes part.
  • Bank Indonesia are set to announce their latest monetary policy decision at 08:20 BST/14:20 WIB. Click here to see our full preview, including a summary of sell-side views and insights from our Policy and Market teams.

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