Indonesian Rupiah Pares Losses as Soft US Data, Fed Tone Weighs on Dollar
USD/IDR edged lower after opening with a bullish gap, remaining in positive territory for the fourth consecutive day, trading around 18,030 during Asian hours.
USDIDR
The Indonesian Rupiah pared recent losses against the US dollar on Tuesday, with USD/IDR inching lower after opening with a bullish gap. The pair remained in positive territory for the fourth straight session, hovering near 18,030 in Asian trade.
The move comes as softer-than-expected US economic data and a dovish tone from the Federal Reserve weighed on the dollar. Traders are interpreting the signals as reducing the likelihood of aggressive Fed tightening, which typically pressures the greenback and supports emerging-market currencies like the rupiah.
Source: FXStreet Forex News