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Rupiah weakens following market anticipation over US data

Kamis 03 Jan 2019 21:26 WIB

Red: Reiny Dwinanda

Money exchange service.

Money exchange service.

Foto: Republika/ Tahta Aidilla
The data shows an economic slowdown in the US.

REPUBLIKA.CO.ID, JAKARTA -- The rupiah fell by 25 points in inter-bank transactions in Jakarta on Thursday morning to Rp14,475 against the US dollar from Rp14,450 earlier. Head of Monex Investindo Futures Research Ariston Tjendra stated that the release of labor data and US manufacturing index data is the focus of market participants in the midst of the situation of the US dollar tending to appreciate.

"However, if the data shows an economic slowdown in the US, it can reverse the direction of the US dollar's movement and have a positive impact on the rupiah," he noted here on Thursday.

According to Tjendra, the rupiah's strengthening will be helped by the impact of demand for the Japanese yen as a safe haven in the midst of strong market concerns about the global economy.

"Strengthening the currency can have a positive impact on the surrounding currency," he stated.

Economist at Samuel Sekuritas Ahmad Mikail stated that inflation in Indonesia in the calendar year of January-December 2018, at 3.13 percent, was fairly under control.

"Controlling inflation throughout 2018 can be a positive catalyst for the rupiah," he added.

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