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The baht surged to THB 35.70 per dollar on November 11, breaking through 36.00 and reaching its strongest level in almost three months. The move followed a sell-off in the dollar on expectations that the Federal Reserve would slow its rate hikes.
Foreign investors were net buyers of Thai stocks and bonds, and the US Treasury removed Thailand from its currency monitoring list.
A stronger baht reduces the local cost of dollar-priced feed imports, but the impact on global feed prices is minimal. The episode mainly reflects dollar weakness and Fed expectations.
kasikornresearch.comNov 11, 2022Not 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.
