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SCB CIO revised its end-2023 baht forecast to 33-34 per dollar from 34-35, citing expected slower Fed rate hikes and a weaker dollar. It expects the Fed to raise rates by 0.25% at each of its February, March and May meetings, then hold at 5.25%.
It recommended foreign investors hedge currency risk.
A forecast of a firmer baht over the year eases the dollar cost of imported feed ingredients for Thai buyers. The forecast is a currency outlook rather than a supply or demand event for feed commodities.
en.moneyandbanking.co.thbank financeJan 23, 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.
