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Rupiah Extends Losses

IDR

Spot USD/IDR has extended its recent gains and last trades +43 figs at IDR14,441, after printing its best levels in more than three months. Further gains past Aug 20 high of IDR14,473 would bring Jul 26 high of IDR14,510 into play. Bears look for a pullback under the 100-DMA/Nov 30 low at IDR14,300/14,293.

  • USD/IDR 1-month NDF last seen -21 figs at IDR14,502. Bears look for a dip through Nov 30 low of IDR14,328, while bulls keep an eye on Aug 19 high of IDR4,573.
  • The eruption of Semeru volcano, the highest mountain on the Java island, killed at least 14 people and left dozens injured on Saturday.
  • Looking ahead, Indonesia's official consumer confidence data will be published on Wednesday.

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