Loading…
The baht reached a 13-month high against the dollar on August 21 after the Bank of Thailand held its policy rate at 2.5%. It closed at 34.21 on August 20 and traded near 34.06 early on August 21, tracking a drop in the dollar index to its lowest since December 2023.
Kasikorn projected a 34.00 to 34.20 trading range in the short term.
A softer dollar index supports USD-priced commodities and lowers local feed import costs in Thailand. The move is mainly a currency story and has limited direct price impact on grain or meal.
thethaiger.comBright ChoomaneeAug 22, 2024After 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.
