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The Thai baht recently tested 37.20 per dollar, its weakest level in almost 16 years, after the Federal Reserve signaled further rate hikes. Kasikorn Research says the Asian-wide currency selloff is driven mainly by dollar strength rather than Thai economic weakness.
It expects the baht to trade in a volatile range for the rest of 2022.
Continued baht weakness raises the cost of imported feed ingredients priced in dollars, squeezing Thai feed margins. The outlook for a volatile range keeps input-cost uncertainty elevated.
kasikornresearch.comSep 21, 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.
