USD/IDR Price News: Indonesian rupiah flirts with highs near 14,250 amid upbeat Consumer Confidence

Dhwani Mehta FXStreet

The latest survey conducted by Bank Indonesia (BI), the Indonesian central bank, showed that the country’s Consumer Confidence Index improved further to 104.40 in May when compared to 101.5 booked in April.

The survey showed that the optimism continues to gain momentum amongst the consumers, in light of ebbing covid fears and vaccination drives in the country.

FX Implications

The USD/IDR pair wallows near multi-day lows of 14,250, as the Indonesian rupiah looks to benefit from strong local data. Subdued US dollar and the Treasury yields continue to remain a drag on the pair.

The spot was last seen trading at 14,252, almost unchanged on the day.

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