MUFG: Thai Baht Negative Bias Persists Under US Yield Pressure
MUFG analyst Lloyd Chan notes broad Asia FX weakness vs the Dollar, with the Thai Baht underperforming amid US yield pressure. The Bank of Thailand held its policy rate at 1% as growth remains low and uneven.
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MUFG's Lloyd Chan reports that the Thai Baht continues to face a negative bias, driven by US yield pressure that is weighing on Asian currencies broadly. The Thai Baht is underperforming compared to other regional FX.
The Bank of Thailand has kept its policy rate unchanged at 1%, citing persistently low and uneven economic growth, as well as tightening credit conditions. The central bank's cautious stance offers little support to the baht as external headwinds persist.
Source: FXStreet Forex News