USD/IDR points to further rangebound – UOB

In opinion of Quek Ser Leang at UOB Group’s Global Economics & Markets Research, USD/IDR faces some consolidation in the near term, likely between 14,220 and 14,280.

Key Quotes

“USD/IDR traded sideways and within relatively narrow ranges last week. Momentum indicators are mostly neutral and further quiet trading would not be surprising. Expected range for this week, 14,220/14,280.”