Exacerbated Global Trade War
The global war tension exacerbates not only the trade relationship between the U.S. and China. Last week, European Union retaliated with the hike of 25% in the tariff imposed on varied products imported from the U.S. It is a counterattack on the trump administration’s tariff on steel and aluminum imported from European Union.

Rupiah Depreciated at Above 14,000 per USD
Rupiah gets depreciated further at above 14,000 per USD last week after Eid Mubarak long holiday. Prior to Eid Mubarak holidays, rupiah got appreciated at around 13,900 per USD. The Fed’s meeting and the trade war tension exacerbated rupiah depreciation.

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