There is Positive Sentiment, Rupiah Remains Difficult Rise
By : Wiyanto And Aldo Bella Putra | Friday, May 11 2018 - 15:00 IWST
Ilustrasi Rupiah (ist)
INDUSTRY co.id - Jakarta-Rupiah is expected to move within the range of support at 14100 and resistance 14058. The weakening of the rupiah still occurs as if nothing is blocking the weakening. Re-increasing demand for USD as the impact of rising US bond yields has a negative impact on the movement of the rupiah.
Binaartha Institutional analyst Reza Priyambada said, still high demand for USD makes the movement of the Rupiah to lose momentum to turn positive. It is expected that existing sentiments can be more positive to withstand and dispel further attenuation.
"From within the country despite a number of positive sentiments, however, less can hinder the weakening of the rupiah. The assumption that the weakening of the rupiah will be positive for export activities that could increase foreign exchange reserves seems not to be influential where the rupiah remains weak, "he said in Jakarta on Friday (5/11/2018).
Meanwhile, on the other hand, market participants pay more attention to the release of US inflation data because later related to the decision of the Fed to raise interest rates.
The current weakness makes some people worried. Added sentiment from within the country is considered not strong enough significant to raise the rupiah. The presence of a lower-than-expected US inflation release made the USD rate down slightly. For that reason, it is expected that the panic may subside so that the Rupiah may be stifled.