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The Bank of Thailand said the baht had risen faster than economic fundamentals over the past two weeks and warned the gain could worsen the economic weakness. Deputy Governor Mathee Supapongse promised extra measures to discourage short-term capital inflows.
The central bank will also monitor gold traders because gold purchases have contributed to the baht's rise.
Capital controls or intervention could cap baht gains and affect the cost of dollar-priced imports for Thai feed and food processors. The policy response suggests the currency move may be limited, which matters for USD/THB direction.
nationthailand.comJun 1, 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.
