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USD Stable But BI Has Intervened As USDIDR Approached 16000

FOREX

G10 currencies are little changed during the APAC session with the DXY USD index slightly higher after range trading through the session and rising 0.5% on Monday following stronger ISM data. The largest mover has been the Swiss franc with USDCHF up 0.2% to 0.9063. EURUSD is down 0.1% to 1.0730. Meanwhile BI has intervened in the market to bring USDIDR down.

  • USDIDR rose to 15960 earlier but then BI has been intervening and it is now up 0.3% today to 15942. BI said that it sees the pressure on the rupiah as only temporary.
  • USDJPY is little changed up 0.1% to 151.73 after a low of 151.51 early in the session. Finance minister Suzuki warned again that no options have been ruled out against excessive FX moves.
  • AUDUSD looked through the RBA March meeting minutes which showed the Board didn’t discuss a rate hike. It was boosted by the rally in the Hang Seng to a high of 0.6499 but the pair couldn’t break above 65c and is now flat on the day at 0.6486 as iron ore is declining again.
  • NZDUSD is down 0.1% to 0.5946 but off the low of 0.5944. There has been no news from NZ. AUDNZD rose to a high of 1.0917 but is now down to 1.0909 to be up 0.1% on the day.
  • USDTHB is up another 0.7% to 36.66 after the government said that the deficit would have to rise to fund its digital wallet scheme. It is now up 2.2% since the start of March and its highest level since early October.
  • Later the Fed’s Bowman, Williams, Mester and Daly appear. In terms of data, there are US JOLTS February job openings, final February durable orders, European March manufacturing PMIs and German preliminary March CPI.
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G10 currencies are little changed during the APAC session with the DXY USD index slightly higher after range trading through the session and rising 0.5% on Monday following stronger ISM data. The largest mover has been the Swiss franc with USDCHF up 0.2% to 0.9063. EURUSD is down 0.1% to 1.0730. Meanwhile BI has intervened in the market to bring USDIDR down.

  • USDIDR rose to 15960 earlier but then BI has been intervening and it is now up 0.3% today to 15942. BI said that it sees the pressure on the rupiah as only temporary.
  • USDJPY is little changed up 0.1% to 151.73 after a low of 151.51 early in the session. Finance minister Suzuki warned again that no options have been ruled out against excessive FX moves.
  • AUDUSD looked through the RBA March meeting minutes which showed the Board didn’t discuss a rate hike. It was boosted by the rally in the Hang Seng to a high of 0.6499 but the pair couldn’t break above 65c and is now flat on the day at 0.6486 as iron ore is declining again.
  • NZDUSD is down 0.1% to 0.5946 but off the low of 0.5944. There has been no news from NZ. AUDNZD rose to a high of 1.0917 but is now down to 1.0909 to be up 0.1% on the day.
  • USDTHB is up another 0.7% to 36.66 after the government said that the deficit would have to rise to fund its digital wallet scheme. It is now up 2.2% since the start of March and its highest level since early October.
  • Later the Fed’s Bowman, Williams, Mester and Daly appear. In terms of data, there are US JOLTS February job openings, final February durable orders, European March manufacturing PMIs and German preliminary March CPI.