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The Bank of Thailand governor said the baht's depreciation was in line with regional currencies and mainly driven by the stronger US dollar, which rose about 11 percent versus the baht's roughly 7 percent weakening. He said the currency was not abnormal.
The central bank signaling no intervention suggests the baht may stay weak, keeping Thai import costs for feed ingredients high.
thaienquirer.comPitchayapa PhiwpongJul 11, 2022Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
