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Rupiah Trims Initial Gains

IDR

Sport USD/IDR has recouped most of its initial losses, seen as onshore markets in Indonesia reopened after a holiday. The rate last changes hands at IDR14,315, 13 figures worse off.

  • Bears keep an eye on the 100-DMA at IDR14,260 and a breach of that moving average would expose May 10 low of IDR14,145. Meanwhile, a move through the 200-DMA/May 20 high at IDR14,389/14,400 would draw attention to the 50-DMA at IDR14,439.
  • A a recap, Bank Indonesia left its benchmark interest rate unchanged on Tuesday, noting that liquidity instruments will be their preferred tool going forward.
  • Bank Indonesia are expected to release money supply data for the month of April.

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