Loading…
Thailand's baht rose as much as 1.1% against the dollar on Thursday, its biggest one-day gain since June 2019, defying a selloff in emerging Asian currencies. The currency broke above its 200-day moving average, a technical level that could attract speculative inflows.
The move has tested the central bank's patience after it warned about the economic risks of continued appreciation.
A stronger baht makes Thai imports cheaper and weighs on the export-linked economy, which can prompt central bank intervention. For feed buyers, the effect on grain and meal prices is indirect, mainly through USD/THB and Thai demand sentiment.
bloomberg.comSuttinee (Ying) YuvejwattanaJun 11, 2020Not 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.
