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The Bank of Thailand said the baht may be reversing its upward trend and that two-way currency movements are likely to increase next year. Deputy governor Mathee Supapongse said investors now see the baht as overvalued given slowing growth, a narrowing current account surplus and a thin interest rate spread.
The central bank has already imposed measures to restrain the currency.
Expectations of a weaker baht would support Thai export competitiveness, but the broader slowdown is bearish for regional demand. The likely effect on feed markets is limited, with a modest upward bias for USD/THB.
bangkokpost.comDarana ChudasriDec 4, 2019Not 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.
