25 Jun 2014
Indonesian Rupiah vulnerable ahead of the election in July - Westpac
FXStreet (Bali) - According to Jonathan Cavenagh, FX Strategist at Westpac, the Indonesian Rupiah remains vulnerable ahead of the national election in July.
Key Quotes
"Overall, the outlook for oil prices remains quite uncertain but it nevertheless leaves us cautious on the outlook for both INR and IDR. The rupiah looks at greater risk than the rupee. Foreign bond investors could lighten positions ahead of the election in July and we continue to expect dips in USD/IDR to be well supported and the NDF curve to steepen further from here."
Key Quotes
"Overall, the outlook for oil prices remains quite uncertain but it nevertheless leaves us cautious on the outlook for both INR and IDR. The rupiah looks at greater risk than the rupee. Foreign bond investors could lighten positions ahead of the election in July and we continue to expect dips in USD/IDR to be well supported and the NDF curve to steepen further from here."