USD/IDR faces some range bound trade near term – UOB

USD/IDR could extend its consolidative mood within the 14,770-14,920 range for the time being, notes Quek Ser Leang, FX Strategist at UOB Group’s Global Economics & Markets Research.

Key Quotes

“Our expectations for USD/IDR to advance last week did not materialize as it traded between 14,815 and 14,933. Upward pressure has eased and USD/IDR is likely to consolidate between 14,770 and 14,920 this week.”