Trump's Protectionism Weakens the Rupiah Exchange Rate
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The Indonesian Rupiah weakened by 0.16% to Rp 14,140 per US dollar in Thursday's (4/7) trading. The weakening of the Rupiah was influenced by global market sentiment, particularly from the United States.
According to Ibrahim, the CEO of PT Garuda Berjangka, US President Donald Trump again implemented protectionist measures for his economy because he considered China and the European Union to be manipulating major currencies. Trump accused them of manipulation aimed at pumping Chinese and European Union funds into the US financial system.
Furthermore, improved US labor market conditions in June compared to May 2019 raised expectations that the Federal Reserve would abandon its intention to lower its benchmark interest rate. This strengthened the US dollar.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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