Pheu Thai spending plans a concern, but dollar strength is having region-wide impact
PUBLISHED : 26 Sep 2023 at 15:45
The Thai baht and Indonesian rupiah led the losses among Asian currencies on Tuesday, pressured by strength in the US dollar as signs of economic resilience and hawkish Federal Reserve rhetoric pushed US bond yields to 16-year highs.
The baht depreciated as much as 0.8% and was trading offshore at 36.34 to the dollar, its lowest level since Nov 10, 2022.
The rupiah weakened as much as 0.6% to its lowest point in eight months….
