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Commerzbank economists say USD/THB could fall back to the low 33.00 level by year-end if the global risk backdrop holds. They expect the pair's 2023 high near 35.40 to act as near-term resistance.
They base the view on Thailand's tourism rebound, with 25 million foreign arrivals projected for 2023 against 11.2 million in 2022.
A forecast for a stronger baht would lower the dollar cost of feed imports for Thai buyers. It is a bank forecast, not a new supply or demand shock.
octaafrica.netMay 26, 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.
