Jakarta, Aktual.com – In today’s trading, the rate of the rupiah against the US dollar (USD) will resume weaken, like other foreign currencies also weakened.
“Yesterday, the rate of the rupiah had strengthened sharply at the level of 13 030, before settling back slightly lower impact of their action took profit (profit taking),” said an analyst at PT NH Korindo Securities Indonesia, Reza Priyambada, the daily analysis, Wednesday (20/7).
Other currencies such as the pound was also seen weakened by 0.46% against the USD to a level of 1.31 percent. This is in line with the pessimism of the IMF and the European Commission against the UK and global economic outlook.
“So, as long as they lack significant sentiment against the rupiah, the rupiah weakened likely to continue the consolidation movement,” he said.
Plus, the attitude of market participants are still likely to be a wait-and-see ahead of the meeting of the Board of Governors of Bank Indonesia (RDG-BI) to determine the direction of monetary policy the central bank.
Previously, Reza had delivered a lack of positive sentiment in the country making tends to strengthen the rupiah limited. Although in reality is weakened.
Technically, Reza, exchange rate forming hammer in a trend that is still inclined sideways. This indicates market participants are still waiting for the signal and confirmation for the next move, when out of its sideways trend it.
“Tend the strengthening rate of USD on the day, can be prohibitive for the strengthening of the rupiah. To that end, support the rupiah would be in the range 13 115 and 13.076 resistant in the range,” said Reza.
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