USD/IDR clings to the consolidation theme – UOB

USD/IDR is expected to trade within the 14,260-14,400 range for the time being, suggested Quek Ser Leang at UOB Group’s Global Economics & Markets Research.

Key Quotes

“Last week, we expected USD/IDR to trade between the two major levels of 14,240 and 14,410. USD/IDR subsequently traded within a narrower range than expected (14,250/14,345).”

“The price actions offer not many clues and we expect USD/IDR to trade sideways this week, likely between 14,260 and 14,400.”