Thai Baht Hits 2-Month High Against US Dollar, Expected to Stay Strong Through Year-End
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The Thai baht hit a 2-month high against the US dollar on Monday and is expected to stay strong until year-end.
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The baht has weakened less than other regional currencies against the dollar this year, down only 2.3%.
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Analysts say the baht should remain strong in November and December, when tourism and exports typically drive appreciation.
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The dollar has weakened after investors believe the Fed is done with interest rate hikes for now.
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Some analysts forecast the Fed may cut interest rates as early as May 2023, sooner than previously expected.