Thai Baht Continues Weakening Battered by Strong Dollar and Higher Yield
The baht lacks fundamental support factors with economists warning the pair USD/THB might slip more this year
Thai baht edged higher to 33.743 up by over 0.30% after inflows into stocks and bonds last week showed room for relief. The USD/THB pair being pressured by higher U.S 10-year benchmark bond yield resulting in upward push on the dollar index.
Some economist expects the baht to further weaken climbing as high as 35 per dollar by the end of 2022 supported by both economic indicators and technical.
US 10-year bond yield up by 58 basis points to 1.475 with DXY at 94.046 points up by 0.01%.
Emerging currencies are battered by the strong dollar index since last week with baht being worst hit due to weak economic recovery and worsened current account deficit numbers in August.
