Baht cools as central bank considers measures to temper rally

The baht is heading for the first weekly drop in a month after the central bank pledged new measures to temper a rally that threatened to derail a nascent recovery in the trade-reliant nation’s exports.

The Bank of Thailand, which “stepped in” to cool the rally this week, is scheduled to hold a briefing on the country’s “forex ecosystem” on Friday, a day after Governor Sethaput Suthiwart-Narueput said “appropriate measures on the baht are still being considered.”

While analyst have been left to speculate on the nature of measures the central bank is likely to take, foreign investors turned net sellers of the nation’s sovereign bonds for a second…