Baht set to further strengthen this year despite headwinds

Quick Summary:

The baht could appreciate further to 35.30 to the US dollar in the short term, after hitting a four-month high of 35.72 early Wednesday, but political instability and deteriorating fiscal positions as a result of the government’s populist policies could limit the Thai currency’s rebound.

The yen rallied as much as 0.8% to a more than three-month high of 151.58 per dollar immediately after the BoJ announcement, though reversed those gains shortly after to 153.25.

As such, we think that policy easing will only commence early next year,” BMI said in a research note.

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Article Details

Category: EconomyBusiness

Markets: ThailandJapan

Topics: Fiscal Baht Research Policy Limit Dollar Bank Thai Rate

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-01 @ 09:40:00 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 471 words

Reading Time: 3 minutes read

Sentences: 11 lines

Sentence Length: 43 words per sentence (average)

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Copyright Owner: © Bangkok Post

News ID: 21881456

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