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Rupiah holds steady as US dollar gains on safe-haven demand
USD/IDR was around 17,930 in European trading Tuesday, as safe-haven flows and a Treasury-yield rally supported the dollar.
The Indonesian rupiah held largely steady against the US dollar, with USD/IDR trading around 17,930 during European hours Tuesday, after minor gains the prior day, according to FXStreet.
FXStreet attributed the dollar support to renewed safe-haven demand amid escalating geopolitical tensions, including coordinated missile and drone strikes by Yemen's Houthi group targeting Saudi military bases and infrastructure.
The outlet also pointed to firmer US rates, noting Treasury yields have reached fresh 24-year highs, alongside a global bond selloff driven by expanding fiscal deficits and persistent inflation pressures.
FXStreet added that recent ISM data showed US services input costs rose at their fastest pace in more than four years, reinforcing inflation concerns that helped lift the dollar further.