Surge in Covid-19 Cases May Pressure Rupiah Against Dollar


On Monday (5/7), the rupiah exchange rate has the opportunity to experience pressure with a support range of 14,500 per US dollar due to the implementation of the emergency PPKM and new daily cases of COVID-19 which continue to break records in Indonesia.

"This condition suppresses Indonesia's economic growth," said Money Market Observer Ariston Tjendra in Jakarta.

But on the other hand, the US dollar showed weakness because the US employment data released Friday night last week was not as good as market participants' expectations.

The market saw two components of the US employment data for June that came in below expectations: data on the rising unemployment rate and data on average wages, which rose below expectations.

The market considers this result insufficient to change the US Central Bank's monetary easing policy even though the Non-Farm Payrolls data released was better than expected.

"This may be a


Penulis : Widya