The Indonesian Rupiah weakened against the US dollar on Thursday, with the USD/IDR pair extending gains for a second consecutive day. According to FX Street, the exchange rate hovered around 18,140 during Asian trading hours.
Market participants are cautious ahead of Indonesia’s May Retail Sales data, expected later in the day, which is influencing the Rupiah’s performance. FX Street noted that the Rupiah is holding losses as traders await this key economic indicator.
Additionally, the US weekly Initial Jobless Claims report will be closely monitored during the North American session, potentially impacting USD/IDR movements. Japanese investors often watch such regional developments closely, given the interconnectedness of Asian markets and the importance of US economic data for currency fluctuations.