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The Thai baht was the largest loser among subdued Asian currencies, down about 6.7% so far this year, as traders awaited US CPI data. Bets on a Fed rate cut in June fell to about 50% from near 60%.
The Bank of Thailand was expected to hold rates for a third consecutive meeting.
Rising US rate expectations and a strong dollar increase the cost of dollar-priced feed imports in Thailand, a key Southeast Asian feed market. This is routine FX commentary with no direct grain or oilseed price impact.
financefundsupdate.comMilyeApr 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.
