Flash: Further moves higher in USD/IDR seems inevitable - ANZ

FXstreet.com (Barcelona) - As Indonesian official reserve assets lost the USD100bn level in June, the Bank of Indonesia will struggle to hold the USD/IDR rate at, or below, the psychological level of 10,000, says Khoon Goh, Senior FX Strategist at ANZ.

As Goh extends: "Further moves higher in USD/IDR seems inevitable given the US and Indonesian macroeconomic backdrop. Indeed, to allow the currency to at least adjust in line with its regional peers would seem appropriate." ANZ year end target for spot USD/IDR is 10,350.