Rupiah Predicted To Continue Strengthening At The Time Of The US Dollar Lesu

JAKARTA - Financial Market Observer and Commodity Ariston Tjendra said that the movement of the rupiah has the potential to continue strengthening the United States (US) dollar on Monday, March 10.

Ariston said the US dollar index weakened to 103.60 this morning after the previous morning on Friday it was still above 104.

"This US dollar weakening was due to data from US workers in February which was released last Friday night, below market expectations, 151 thousand compared to 160 thousand expectations," he told VOI, Monday, March 10.

In addition, Ariston said the unemployment rate also increased slightly compared to expectations, 4.1 percent compared to the previous 4.0 percent

According to him, this result reopens the opportunity to cut the US Central Bank benchmark interest tribe, pushing for a weakening of the US dollar.

He conveyed that the movement of the rupiah on Monday, March 10, has the potential to continue strengthening the US dollar towards the level of Rp. 16,170 per US dollar with the potential for resistance at Rp. 16,300 per US dollar.

Quoting Bloomberg, on Friday, March 7, the rupiah spot exchange rate was closed up 0.28 percent to the level of Rp. 16,295 per US dollar. Meanwhile, the Jakarta Interbank Spot Dollar Rate (Jisdor) exchange rate of Bank Indonesia (BI) closed down 0.12 percent to a price level of Rp. 16,336 per US dollar.