Dollar Strengthens Against Indonesian Rupiah Amid Rising Treasury Yields

The US Dollar (USD) has strengthened against the Indonesian Rupiah (IDR), trading around 17,980 during European hours on Thursday. The USD/IDR pair appreciates as the US currency rises amid elevated oil prices and higher Treasury yields.

Treasury yields have climbed to multi-decade highs due to concerns over persistent energy-driven inflation, which could prompt tighter monetary policy. The 10-year Treasury yield rose to 5.34%, while the 30-year Treasury yield climbed to 5.681%.

However, Federal Reserve rate hike expectations eased following softer-than-expected inflation data released on Wednesday. Market focus now turns to Friday's US Nonfarm Payrolls report, where consensus forecasts expect 90,000 jobs added in September and the unemployment rate to hold steady at 4.1%.