Bank Indonesia (BI) decided to hike the benchmark interest rate by 25 basis points to 5.75% on June 18, from the previous 5.5%. The decision aligned with the market expectations.
USD/IDR inches lower after opening at a bullish gap, remaining in the positive territory and trading around 17,880 during the Asian hours on Thursday. The currency pair breaks lower as the Indonesian Rupiah (IDR) finds support ahead of Bank Indonesia’s (BI) policy meeting on Thursday.
The AUD/USD pair trades near 0.7070 with a neutral tone on Wednesday, as the Australian Dollar (AUD) benefits from improved risk sentiment following the latest developments in the US-Iran conflict.