Indonesia Rupiah Falls, Analysts Expect No Rate Change

        0354 GMT [Dow Jones] The rupiah is weaker at IDR11,620 to the U.S. unit versus its Wednesday close of IDR11,570. USD/IDR could reclaim its bullish technical bias - contingent on a Thursday close above 11,570 - which would imply the rupiah is likely to continue weakening. Re-entry into the Bollinger uptrend channel sets the U.S. dollar on course for 11,750 - the top of the Ichimoku Cloud resistance zone. Bank Indonesia is likely to keep its benchmark interest rate unchanged today at 7.50% for a sixth consecutive month, according to most analysts polled. Considering weak 1Q growth, monetary tightening is unlikely, while the ongoing act of reducing Indonesia's chronic current account deficit makes a rate cut equally unlikely. (ewen.chew@wsj.com)
        (END) Dow Jones Newswires

        May 07, 2014 23:54 ET (03:54 GMT)