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Low Number Of Critical Covid Cases Soothes Nerves Amid Surge In Infections

IDR

Spot USD/IDR has shed 11 figs on broader reprieve for riskier assets and last changes hands at IDR14,292. Bears look for further losses towards IDR14,187, which provided a layer of support on Dec 24. Conversely, a recovery above Feb 11 high of IDR14,368 would bring Feb 7 high of IDR14,408 into play.

  • USD/IDR 1-month NDF last +23 figs at IDR14,294. Bulls set their sights on Feb 11 high of IDR14,382, while bears keep an eye on yesterday's low of IDR14,255.
  • Indonesia's daily Covid-19 cases hit an all-time high, eclipsing the peak of last year's deadly Delta wave. However, this time around hospitalisations and deaths are much lower.

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