Search ForexCrunch

The Indonesian currency suffered amid the deteriorated risk sentiment. Nonetheless, economists at Westpac Institutional Bank are slightly upbeat regarding the Indonesian economy. USD/IDR trades at 14530.

Key quotes

“Volatility needs to settle at a lower level on a more sustained basis before investors add back decisively to their positions.” 

“Near-term bias remains to the upside for USD/IDR, with the topside at 14520.”

“The Indonesian economy should be relatively less impacted by the coronavirus, while real yield differential remains supportive, but investors are likely to be patient.”

 

Expert score

5

Etoro - Best For Beginner & Experts

  • 0% Commission and No stamp Duty
  • Regulated by US,UK & International Stock
  • Copy Successfull Traders
Your capital is at risk.