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Monex Europe says the Thai baht, down almost 6% against the dollar this year, has likely seen its worst. It expects a more constructive external rate backdrop and firmer domestic conditions to support a recovery in the second half.
The bank expects USDTHB to retrace lower over the medium term as Fed easing becomes clearer.
A firmer baht lowers the local-currency cost of Thai feed and feed-ingredient imports, which eases pressure on Thai feed millers. The effect on global grain and meal prices is small.
monexeurope.comFreya Blair-DaviesMay 24, 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.
