USD/IDR risks downside pressure in early 2021 – UOB

Strategists at UOB Group’s Quarterly Global Outlook 3Q 2020 see USD/IDR losing some momentum in the first half of 2021.

Key Quotes

“Now, the IDR is looking excessively overbought in the near term and is starting to diverge from gloomy fundamentals on the ground”.

“As such, IDR is likely to consolidate gains at 14,300 in 3Q20 and 14,500 in 4Q20 before recovering to 14,300 in 1Q21 and 13,900 in 2Q21.”