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The baht surged to a 19-month high against the dollar, opening at 32.92 per dollar on Monday after breaching the 33 level. The move followed the Federal Reserve's 50 basis point rate cut and profit-taking in gold.
A firmer baht following Fed easing reduces dollar-denominated import costs for Thailand but cuts exporter margins, with minimal direct effect on feed grain prices.
bangkokpost.comSomruedi Banchongduang, Nareerat WiriyapongSep 23, 2024Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
