USD/IDR has shed 55 pips and now deals...>

DOLLAR-IDR: USD/IDR has shed 55 pips and now deals at IDR14,732. The rate has

been pressured by USD sales. The greenback has retained yesterday's weakness,

seen amid optimism surrounding Oxford research into a Covid-19 vaccine & EU

fiscal talks.

- Bank Indonesia Gov Warjiyo wrote that IDR remains undervalued relative to

fundamentals and "will be appreciating with improving risk premium", while BI

will continue to stabilise the currency. He noted that the central bank's policy

framework and strategy remain unchanged after last week's rate cut.

- Yesterday, Indonesian Finance Ministry & central bank formally signed off on

their deficit burden-sharing agreement.

- Elsewhere, President Joko Widodo said he will chair a newly formed task force,

which will aim at accelerating economic recovery from the coronavirus crisis.

- Bulls look for a break of the 100-DMA at IDR14,844. This would open the upper

3.0% Bollinger band at IDR14,977. Bears look for a dip through Jul 3 high of

IDR14,587 before targeting the 50-DMA at IDR14,426.

- Indonesian data docket is virtually empty this week.