Indonesian Rupiah Bucks Region; Slips VS USD

        0220 GMT [Dow Jones] Unlike most Asian currencies, the Indonesian rupiah is weaker versus the U.S. dollar on Wednesday. USD/IDR has risen to 11,530 from its Tuesday close of 11,515, implying a weaker local currency. The daily chart indicates consolidation within a range of 11,500-11,570--demarcated by the 20-day Bollinger mid support and the entrance to the Bollinger uptrend channel--is likely for USD/IDR in the near term. Elsewhere in Southeast Asia, the greenback is slipping versus the Malaysian ringgit, the Philippine peso and the Singapore dollar due to euro's overnight rally and the depressed U.S. Treasury yields. The main risk event ahead for the Indonesian rupiah will likely be the July 1 presidential elections. (ewen.chew@wsj.com)
        (END) Dow Jones Newswires

        May 06, 2014 22:20 ET (02:20 GMT)