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USD/IDR has added 24 pips and last.......>

DOLLAR-IDR
DOLLAR-IDR: USD/IDR has added 24 pips and last sits at IDR13,910. The rate is
headed for the seventh straight session in the green. Continued worry over the
global spread of Covid-19 applies pressure to IDR even as Indonesia has not yet
confirmed any cases.
- Indonesian FinMin Indrawati said that he sees 2020 budget deficit slightly
widening amid a slowing economy and softer tax revenue.
- Elsewhere, EconMin Hartarto noted that the gov't may increase palm oil export
levy, used as an incentive for the biofuel programme.
- Pres Jokowi is set to make a trip to the U.S. next month & meet with Pres
Trump, with details of the visit to be disclosed within 1-2 weeks.
- Finally, BI Snr Dep Gov Damayanti expressed confidence that inflation can be
held in check, while pledging that the central bank will continue its "triple
interventions" to stabilise IDR.
- Should the rate take out the 100-DMA at IDR13,925, bulls would be able to
target the nearby Jan 6 high of IDR13,966. Meanwhile, a reversal and pullback
under the 50-DMA which coincides with the Feb 4 high at IDR13,773.

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