Forex - Indonesia Flows: Rupiah marginally stronger as risk appetite returns


 02:40 (GMT) 17 Apr

  [Forex Flows]

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Indonesia Flows: Rupiah marginally stronger as risk appetite returns (0100-YWPM-C01)

USD/IDR onshore spot gapped slightly lower to open at 13765 on Tuesday vs. last close of 13775 as risk appetite returned marginally this morning with steady China growth and limited impact seen from Syria attacks. A larger than expected trade surplus reported by Indonesia on Monday also continued to cap gains in the pair, which was last seen trading just above 13770. Domestically, this week's focus is Bank Indonesia's rate decision due on Thursday, which we expect 7d reverse repo rate unchanged at 4.25%. For USD/IDR, the support at 13735 likely to hold, and a break of 13780 remains key for bulls to take charge. 1M NDFs meanwhile continued to trade with resilience around 13810. JKSE last seen in mild gains of 0.15%.


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