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Rupiah Rangebound, Budget Comments Eyed

IDR

Spot USD/IDR changes hands +6 figs at IDR14,658, with bulls looking to attack May 19 cycle high of IDR14,738. Bears look for a retreat towards May 11 low of IDR14,525.

  • USD/IDR 1-month NDF last seen -4 figs at IDR14,658. Bears keep an eye on May 19 low of IDR14,623, while bulls look to a jump above May 16 high of IDR14,772.
  • Bank Indonesia will announce its monetary policy decision on Tuesday. Click here to see our preview.
  • Elsewhere, FinMin Indrawati will speak on 2022 state budget, while the government will review the remaining COVID-19 restrictions today.

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