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KATADATA/FAUZA SYAHPUTRA
The Rupiah Weakened This Morning, Influenced By Ongoing Concerns Regarding The Continuation Of The Trade War Initiated By Trump
Wednesday, 12 Feb 2025
The exchange rate of the rupiah has depreciated by 0.38% to a level of 16,344 per US dollar during this morning's trading session on Monday, February 10. It is anticipated that the rupiah will continue to face pressure throughout the day due to the strengthening of the US dollar, which is buoyed by expectations surrounding the ongoing trade war. "The strengthening of the US dollar is still supported by market expectations regarding the potential trade war resulting from President Trump's import tariff policies," stated currency market analyst Ariston Tjendra on Monday.
Ariston noted that the US dollar index has risen to 108.35 this morning, compared to last week's position of 107.77. This increase in the dollar index aligns with economic data released over the weekend, which indicated robust employment conditions in the US and rising inflation prospects.
"The unemployment rate in the US for January decreased to 4.0% from the previous 4.1%, while average wage growth increased to 0.5% from 0.3%, and inflation expectations rose to 4.3% from 3.3%," he remarked. Ariston predicts that the rupiah will weaken today to a level of 16,350 per US dollar, with potential support around 16,250 per US dollar. According to Bloomberg, as of 09:30 WIB, the majority of Asian currencies have weakened against the US dollar, with the Chinese yuan down 0.16%, the Philippine peso down 0.24%, the South Korean won down 0.07%, the Thai baht down 0.02%, the Japanese yen down 0.38%, and the Singapore dollar down 0.18%. Conversely, the Hong Kong dollar and the Indian rupee have appreciated by 0.02% and 0.18%, respectively.
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