Weak Baht May Fall to 2023 Low as Central Bank Decision Looms [Yahoo! Finance]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
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Source: Yahoo! Finance
(Bloomberg) -- The Thai baht may extend its recent declines to test support at last year's low amid growing pressure on the central bank to cut interest rates. Most Read from Bloomberg RBC Fires CFO Ahn After Probe Into Personal Relationship Trumpism Is Emptying Churches Saudis Scale Back Ambition for $1.5 Trillion Desert Project Neom Turkey Joins NATO Allies in Suspending Europe Arms Treaty Mark Zuckerberg's Wealth Exceeds Elon Musk's for the First Time Since 2020 The currency has already dropped almost 7% since the start of January, making it one of Asia's worst performers, and putting it less than 1.4% away from October's low of 37.237 per dollar. Some analysts see that level being tested if the Bank of Thailand trims its benchmark on Wednesday. While economists are predicting policymakers will stay on hold this week, traders are on guard for any dovish comments after two central bank members voted for a reduction at the previous meeting in February. The government
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