Indonesia: Rupiah Softens After Persistent Decline in Consumer Confidence.

The Indonesian rupiah edged lower on Monday, hovering near IDR 17,820 per U.S. dollar after firming to around IDR 17,780 in the prior session. Sentiment was weighed by fresh data showing consumer sentiment fell for a third straight month to a 15-month low in July, amid sustained concerns over current economic conditions and the job outlook. Caution also prevailed ahead of June retail sales data due Tuesday, after sales posted their steepest drop in three years in May amid elevated inflation and higher non-subsidised fuel prices. Still, losses were limited as the U.S. dollar index eased after weaker-than-expected U.S. job data eased bets of further tightening. Locally, foreign investors returned to Indonesian government bonds and equities in July, ending months of sustained selling and providing some support for the rupiah. Traders also remained focused on President Prabowo Subianto’s choice of the next Bank Indonesia governor following Perry Warjiyo’s abrupt departure last month.