Wednesday Indonesian financial markets will be shut on Wednesday for the presidential elections, but traders will closely monitor the vote. Recent polls indicate a tight race between ex-army general Prabowo and Jakarta governor Joko Jokowi Widodo. Jokowi is the candidate that the markets feel will be most conducive to economic management. If we were to see him win, I would expect that the rupiah would rally strongly to 11,500. Conversely, if Prabowo wins, that would be perceived as much less friendly and we`ll see the rupiah sell off alongside Indonesian assets, said Jeffrey Halley, senior manager of FX trading at Saxo Capital Markets. Read more at: moneycontrol/news/asian-markets/asia-to-focuspolitics-china-data_1120748.html?utm_source=ref_article
Posted on: Tue, 08 Jul 2014 10:46:06 +0000
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