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The Thai baht rose to 36.4 per dollar on Monday, up 0.4% from Friday's close of 36.58. Weaker-than-expected US inflation and jobs data lifted expectations of a Federal Reserve rate cut in September, with markets pricing a 77% probability.
Analysts see the baht possibly reaching 36.1 in the near term.
A firmer baht lowers the local-currency cost of imported feed ingredients such as soymeal, corn and fishmeal, which are priced in dollars. Expectations of Fed easing also tend to weaken the dollar, which supports commodity prices.
bangkokpost.comNareerat WiriyapongJul 9, 2024Not enough comparable past events yet for a historical read.
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.
