USD/IDR: Extra rangebound seems probable – UOB

USD/IDR is still seen navigating the 14,330/14,405 range according to Quek Ser Leang at UOB Group’s Global Economics & Markets Research.

Key Quotes

“We expected USD/IDR to trade between 14,330 and 14,440 last week. USD/IDR subsequently traded in a quiet manner and within a narrower range than expected (14,350/14,397).”

“The quiet price actions offer no fresh clues and USD could continue to trade sideways. Expected range for this week, 14,330/14,405.”

“Looking ahead, if USD/IDR closes above 14,405, it could trigger a move higher to 14,450.”