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The Thai baht fell to 34.47 per dollar on Tuesday from 34.44 the day before, tracking regional currencies. Investors are pricing in higher U.S. rates for longer and are wary of the U.S. debt ceiling standoff.
Bank of Ayudhya cites political uncertainty as a domestic factor, with daily foreign outflows of about THB10 billion.
Baht weakness plus foreign fund outflows raise dollar-denominated feed costs for Thai importers. The effect on global commodity prices is limited.
kaohooninternational.comTotem SuvineeMay 23, 2023Not 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.
