"Movement of dollars with the stock market closely related, thus weakening the composite share price index (CSPI) in Indonesia Stock Exchange (IDX) influence the weakening in domestic currency," said David Sumual foreign observer said here on Friday.
He added that the improved U.S. economic reports made market participants to put their funds into U.S. dollars. "The U.S. dollar managed to rebound higher against other currencies triggered initial jobless claims data are far better than expected, prompting optimism in the labor market recovery as data for last week's disappointing," he said. However, he continued, the U.S. also affected by negative sentiment, such as speculation that the U.S. housing market data still would show weakness. "Well, that makes the U.S. state can not fully re-grow quickly. The weakening rupiah is only temporary, one due to negative sentiment in the U.S. housing data are bad," he said.
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