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Rupiah Falters Amid Omicron Worry

IDR

Spot USD/IDR deals +40 figs at IDR14,268 at typing, hitting its best levels in a week. A clearance of Dec 21 high of IDR14,400 would allow bulls to regain poise. On the flip side, a slide through the IDR14,192-14,187 area, which limited losses on Nov 15, Nov 16 & Dec 24, would signal potential for a deeper sell-off.

  • USD/IDR 1-month NDF last +42 figs at IDR14,283. Bulls look to a move through Dec 21 high of IDR14,522 towards Dec 3 high of IDR14,545. Meanwhile, a dip through Dec 24 low of IDR14,137 would open up Oct 15 low of IDR14,058.
  • Vice Pres Amin noted Tuesday that Pres Widodo held discussions on banning overseas travel by Indonesian citizens as the gov't seeks to prevent the spread of the Omicron coronavirus variant.

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