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Little Volatility After Bank Indonesia MonPol Decision


Spot USD/IDR operates +8 figs at IDR14,245, with little in the way of notable local headline flow. Topside focus falls on the 200-DMA at IDR14,289 and a break here would shift focus to Aug 31 high of IDR14,345. Bears need a fall through Sep 17 low of IDR14,212 before taking aim at IDR14,203, which limited losses on Sep 10.

  • USD/IDR 1-month NDF last seen -2 figs at IDR14,293. Bears keep an eye on Sep 7/Jun 11 lows of IDR14,201/14,198, while bulls set their sights on Sep 20 high/200-DMA at IDR14,354/14,366.
  • Bank Indonesia left the 7-Day Reverse Repo Rate unchanged yesterday, matching consensus. Gov Warjiyo noted that the central bank is ready for the Fed taper expected in November and said that it "will be lower in impact compared to 2013."

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