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Day: August 22, 2014
August 222014
Indonesian Rupiah Gains as Court Supports Election Outcome
The Indonesian rupiah advanced today after the country’s Constitutional Court ruled in favor of Joko Widodo, rejecting challenges against the outcome of the July presidential elections. Prabowo Subianto, another candidate for the presidential seat, challenged the voting outcome, claiming it to be a fraud. The court rejected the allegations, saying that there were no evidences of violations. With the court ruling, the rupiah lost the downward pressure from political uncertainty that was dragging […]
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August 222014
S&P Comments Bolster Indian Rupee
The Indian rupee climbed after Standard & Poor’s praised the efforts of the country’s government to reduce the budget deficit, which may improve the outlook for India’s sovereign credit rating. According to Bloomberg, S&P commented favorably on India’s attempts to cut the deficit. This should help the country’s credit rating, which currently stands at the lowest investment grade, and the agency has a negative outlook on it. The rupee also rallied with many other emerging-market […]
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August 222014
US Data Keeps Dollar Strong
Economic data from the United States allowed the US dollar to rally against its major peers, including the Great Britain pound and the Japanese yen, yesterday and to maintain gains today. The currency fell against the euro but not before reaching the highest price since September. A range of US macroeconomic indicators was released yesterday, and all of them were positive. The data followed the hawkish Federal Reserve minutes that were released […]
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