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The Thai baht rose as much as 1.6% to 34.43 per dollar on March 13 as the dollar slid after the collapse of Silicon Valley Bank. Regional currencies including the Philippine peso and Malaysian ringgit also strengthened.
A stronger baht lowers Thai import costs for feed ingredients, while the dollar weakness is mildly supportive for dollar-priced commodities.
brecorder.comReutersMar 13, 2023Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
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.
