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ING expects the USD/THB pair to trade in a new 31-33 range in 2020, close to the top end over the next three months. The baht fell 3.7% against the dollar in January after being Asia's best performer in 2019, and ING downgraded its Thai current account and GDP forecasts.
A forecast of persistent baht weakness reflects weaker Thai growth and tourism, a macro view with limited direct effect on feed commodity prices.
think.ing.comJan 31, 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.
