JAKARTA - Financial Market Observer and Commodity Ariston Tjendra said that the movement of the rupiah has the potential to weaken against the United States (US) dollar on Tuesday, March 11.
Ariston delivered Trump's interview at Fox News yesterday about his tariff policy sparking market concerns about a possible recession in the US and the slowdown in the global economy.
"In his interview, Trump said there would be a transition period that meant the market had a short-term slowdown due to the implementation of the tariff increase policy" he told VOI, Tuesday, March 11.
Ariston said the movement of the US dollar was more or less under pressure because of this.
But on the other hand, according to him, market concerns about the economic slowdown will usually reduce the price of risky assets, especially assets in emerging markets, including rupiah.
He conveyed that the movement of the rupiah on Tuesday, March 11, has the potential to weaken against the US dollar towards the level of Rp. 16,400 per US dollar with potential support at Rp. 16,300 per US dollar.
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Quoting Bloomberg, on Monday, March 10, the rupiah spot exchange rate was closed down 0.44 percent to the level of Rp. 16,367 per US dollar.
Meanwhile, the Jakarta Interbank Spot Dollar Rate (Jisdor) exchange rate of Bank Indonesia (BI) closed up 0.06 percent to a price level of IDR 16,326 per US dollar.
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