Forex
Rupiah to Trade Within Range Amid Mixed Signals
The Indonesian rupiah is facing mixed signals from global markets as investors await details of a planned US Treasury buyback and assess the impact of rising oil prices.
According to Permata Bank Chief Economist Josua Pardede, expectations surrounding the US Treasury Department's buyback plan have weighed on the US dollar, providing an external factor for the rupiah.
The market is also watching the Japanese yen, which has continued to strengthen after US Treasury Secretary Scott Bessent warned investors against betting against the currency.
Rising oil prices are adding pressure on emerging-market currencies such as the rupiah, with tensions in the Middle East raising concerns over inflation and interest rates.