The positive signal from the trade negotiation between the U.S and China cranked IDR's rate up. However, the anticipation now went to the Feds. (Image via Market Bisnis)

Waiting for the Feds, IDR advances further to Rp13,995/USD

On Wednesday’s foreign exchange (forex) spot market, the Indonesian Rupiah is seen at Rp13,995 against the U.S Dollar. The rate strengthened by 0.11 percent compared to Tuesday’s closing rate at Rp14,020/USD. For today, IDR is moving at Rp13,390 - Rp14,050/USD.

Today, most currencies in Asia – ASEAN regions weakened against the USD. S. Korean Won (KRW) weakened by 0.16 percent, the Japanese Yen (JPY) 0.03 percent, Singaporean Dollar (SGD) by 0.04 percent, and New Taiwanese Dollar (TWD) weakened slightly by 0.01 percent.

Only Hong Kong Dollar (HKD), the Philippines Peso (PHP), and Malaysian Ringgit (MYR) shared the same joy as IDR, strengthening by 0.02 percent, 0.05 percent, 0.04 percent respectively against the USD.

Meanwhile, Turkish Lira (TRY) remains stagnant against the USD.

The currencies in the developed country regions showed various signs against the USD. Great Britain Pound sterling (GBP) weakened by 0.17 percent, and Canadian Dollar (CAD) slightly by 0.02 percent.

Australian Dollar (AUD) and the European Union Euro (EUR) remain stagnant against the USD.

The strengthening of IDR is said to be caused by the positive signal showed in the trade negotiation between the U.S and China. The U.S was rumored to postpone imposing an additional tariff on Chinese goods, supposedly on 15 December.

Nonetheless, the rumor was bashed by the Director of the United States National Economic Council, Larry Kudlow. Therefore, the journey to Phase One agreement is still up in the air.

Besides the trade war, the global market is anticipating the decision of the Federal Reserve, or the Feds, which will be released on early Thursday.

Source: https://bit.ly/36oQjlj