Baht tipped to slide as US Fed hold-ups rate cuts

PUBLISHED : 12 Apr 2024 at 09: 15 A traveler prepares to modification cash at a currency exchange cubicle in Bangkok’s Chinatown, Yaowarat, on March 18,2024 (Photo: Nittaya Nattayai) The baht is poised to experience considerable pressure, possibly reaching 37 baht per United States dollar next week, as a outcome of better-than-expected financial information from the UnitedStates paired with the US Federal Reserve’s choice to hold off on interest rate cuts. Opening at 36.76 baht versus the greenback on Friday, the baht skilled a significant devaluation from its previous day’s closing rate of 36.38 baht. Poon Panichpibool, a international market strategist at Krungthai Bank (KTB), stated the dollar increased throughout the board, especially versus the Japanese yen, reaching its greatest level because the mid-1990s following a higher-than-anticipated increase in UnitedStates inflation in March. The baht decreased considerably compared with the greenback. According to information from the US Department of Labor, the customer pric
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