Indonesia Rupiah Slips VS USD as GDP Disappoints

        0553 GMT [Dow Jones] The Indonesia rupiah has slipped to IDR11,530 per U.S. dollar versus its Monday opening level of IDR11,500, burdened by weaker-than-expected Gross Domestic Product data for the first quarter. Indonesia's GDP growth slowed to 5.2% in 1Q from 5.7% in 4Q, well below the 5.6% pace expected by the economists polled. There could be extended weakness in store for the rupiah if USD/IDR closes Monday above IDR11,570. On confirmation of this bullish technical signal, the U.S. dollar could rally to IDR11,670 in the days ahead. The Indonesian central bank said in response to the weak data that policy easing may be needed to boost the economy. (ewen.chew@wsj.com)
        (END) Dow Jones Newswires

        May 05, 2014 01:53 ET (05:53 GMT)