Baht Slides as Hawkish Fed Rattles Markets, Analysts See Further Depreciation Through Year End

Fed's comments rattle markets, causing the baht to slide further
Economists warn baht will weaken through October due to volatility after hawkish Fed statements
Baht may depreciate more than expected and remain weak longer with Fed's prolonged high rates
Baht also faces pressure from foreign investor selling of Thai assets in "risk-off" state
Business operators urged to hedge exchange rate risk as baht could fluctuate on uncertain factors
Analysts forecast baht in 36.15-36.50 range to dollar by year-end, revising from 34 on higher uncertainties

bangkokpost.com

Relevant topic timeline:

8/22/2023

Morning Bid: After the rebound, markets revert to type

Asian markets are expected to follow the global trend of weakness in stocks, a buoyant dollar, elevated bond yields, and souring investor sentiment, with no major catalysts to change the current market condition.

9/6/2023

Asia stocks fall as global growth concerns mount

Asia stocks fall as weak economic data in China and Europe raise concerns over global growth, while the dollar strengthens as investors assess the outlook for U.S. interest rates.

9/20/2023

Thailand Announces $66 Billion Borrowing Plan for 2024 to Stimulate Economy

Thailand's new government plans to borrow 2.4 trillion baht ($66.4 billion) for the fiscal year 2024, representing a 9% increase from the current year, as part of their efforts to stimulate the economy.

9/20/2023

Thai Baht and Stocks Sink on Stimulus Funding Worries

The baht falls to a 10-month low and the Stock Exchange of Thailand declines as investors worry about the government's planned bond issuance to support stimulus policies.

9/26/2023

Thai Baht Slides to 10-Month Low as Strong Dollar and Higher US Yields Weigh on Asian Currencies

The Thai baht and Indonesian rupiah have weakened against the US dollar due to the dollar's strength and concerns about Pheu Thai's spending plans, while other Asian currencies have also seen losses.

Topics

Posted 9/21/2023, 11:10:00 PM

Baht Slides as Hawkish Fed Rattles Markets, Analysts See Further Depreciation Through Year End

Fed's comments rattle markets, causing the baht to slide further
Economists warn baht will weaken through October due to volatility after hawkish Fed statements
Baht may depreciate more than expected and remain weak longer with Fed's prolonged high rates
Baht also faces pressure from foreign investor selling of Thai assets in "risk-off" state
Business operators urged to hedge exchange rate risk as baht could fluctuate on uncertain factors
Analysts forecast baht in 36.15-36.50 range to dollar by year-end, revising from 34 on higher uncertainties

bangkokpost.com

Relevant topic timeline:

8/22/2023

Morning Bid: After the rebound, markets revert to type

9/6/2023

Asia stocks fall as global growth concerns mount

Asia stocks fall as weak economic data in China and Europe raise concerns over global growth, while the dollar strengthens as investors assess the outlook for U.S. interest rates.

9/20/2023

Thailand Announces $66 Billion Borrowing Plan for 2024 to Stimulate Economy

9/20/2023

Thai Baht and Stocks Sink on Stimulus Funding Worries

The baht falls to a 10-month low and the Stock Exchange of Thailand declines as investors worry about the government's planned bond issuance to support stimulus policies.

9/26/2023

Thai Baht Slides to 10-Month Low as Strong Dollar and Higher US Yields Weigh on Asian Currencies

The Thai baht and Indonesian rupiah have weakened against the US dollar due to the dollar's strength and concerns about Pheu Thai's spending plans, while other Asian currencies have also seen losses.