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Rupiah Weakens After Tuesday's Inflation Miss

IDR

Spot USD/IDR trades +16 figs at IDR14,353 after trimming some of its initial gains. A break above Feb 24 high of IDR14,387 would allow bulls to target Feb 7 high of IDR14,408. Bears need a fall through Feb 16 lows of IDR14,253 to regain poise.

  • USD/IDR 1-month NDF last seen -50 figs at IDR14,380. Bears look for a dip through Feb 15 low of IDR14,255, with bulls looking to a rebound above Feb 24 high of IDR14,506.
  • As a reminder, Indonesian headline CPI inflation missed expectations. The local statistics authority noted that government subsidies helped soften the impact of higher commodity prices.

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