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- USD/IDR Price News: Rupiah pares intraday gains around $14,350 on mixed Indonesia inflation
USD/IDR Price News: Rupiah pares intraday gains around $14,350 on mixed Indonesia inflation
- USD/IDR bounces off intraday low after Indonesia inflation data.
- Indonesia Inflation figures eased in February, Core Inflation rose.
- Sluggish markets, firmer yields underpin USD rebound with eyes on Russia-Ukraine headlines.
USD/IDR pauses the early Asian declines after Statistics Indonesia released February month inflation data on Tuesday. That said, the Indonesia rupiah (IDR) pair picks up bids to $14,350 of late while paring the intraday losses of 0.20% at the latest.
That said, Indonesia's Inflation data weakens on both MoM and YoY basis, to -0.02% and 2.06% versus 0.03% and 2.2% in that order. However, the Core Inflation rose to 2.03% against market consensus of 1.93% and 1.84% previous readouts.
It’s worth noting that the US dollar’s rebound also played its role in the latest USD/IDR recovery.
The greenback recently benefited from the upbeat US Treasury yields, up two basis points (bps) to 1.86% at the latest, as well as the market’s anxiety over the Russia-Ukraine standoff.
Read: US Senator Murphy: West is coordinating to freeze and seize the assets of Russian Pres. Putin
Overall, USD/IDR portrays the impact of downbeat Indonesia inflation and the latest sour sentiment may keep buyers hopeful to overcome the nearby key hurdle.
Technical analysis
Unless crossing a three-month-old resistance line, near $14,420 by the press time, USD/IDR sellers keep the reins.
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