MNI BRIEF: JGB Reduction Scale To Be "Suitable" - BOJ's Ueda

MNI BRIEF: BOJ Maintains Econ, Inflation View Assessment

BOJ DECIDES TO CUT JGB BUYING; RELEASE DETAILS AT APRIL MEETING

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Higher At 7.1151 Fri; -1.51% Y/Y

The Riksbank Should Look Through Increase In Inflation Momentum

Final HICP Breadth of Disinflation at Highest Since Oct'21

MNI: FRANCE MAY HICP +0.1% M/M, +2.6% Y/Y

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

TD Securities On The Lookout For Forceful FX Intervention From BI

INDONESIA CENTRAL BANK

In the wake of today’s BI action TD Securities write “we think the overnight leap in USDIDR past the 15,800 level probably caught authorities' attention and triggered them to take decisive action to stem the sell-off in IDR.”

  • “However, we suspect the 25bps hike may have only a transient effect as US-ID rate differentials are likely to stay wide, given the sell-off in US rates, while capital outflows are worsening.”
  • “Capital outflows have risen with bond outflows, accelerating since early August while equities flows remain negative YTD.”
  • “With the upward drift in US rates, the risk is that the broad USD continues to catch a bid and pressures Asia FX lower.”
  • “We suspect that USDIDR will be well bought on dips and see the path of least resistance as heading towards the 16,000 level, which could necessitate some forceful FX intervention from BI.”
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletEM BulletEmerging Market NewsHomepage
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.