USD/IDR faces some consolidation near term – UOB

USD/IDR is expected to trade between 14,450 and 15,800 in the near term, comments Markets Strategist at UOB Group Quek Ser Leang.

Key Quotes

“USD/IDR bucked the USD weakness trend as it closed higher by 0.42% last Friday (NY close of 15,575).”

“The price actions appear to be part of a broad consolidation range and we expect USD/IDR to trade between 15,450 and 15,800 this week.”