A BI policy rate cut next week would surprise FX markets as well. A kneejerkmove higher is expected in USD-IDR in response to any policy easing. Standard Charterd notes as follows on Friday: More generally, we expect USD…
A BI policy rate cut next week would surprise FX markets as well. A kneejerkmove higher is expected in USD-IDR in response to any policy easing.
Standard Charterd notes as follows on Friday:
More generally, we expect USD-IDR to remain on an uptrend (with an initial technical target of 13,662), with limited resistance from BI, as long as the move higher in USD-IDR is gradual.
We think BI's willingness and ability to stem further IDR depreciation is limited.Indeed, recent comments from BI appear to welcome IDR weakness, as long as such moves are gradual
We maintain short- and medium-term Neutral FX weightings on the IDR. We have a Neutral outlook on IDR bonds.
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