Thai currency poised to move sideways
The baht yesterday surged against a significant fall in the US dollar mainly due to the sudden collapse of Silicon Valley Bank (SVB) and the market’s expectation that the US Federal Reserve (Fed) would slow down its policy rate hikes.
Yesterday, the baht opened at 34.65 per dollar, after closing at 35.02 last week.
Due to the fallout from SVB’s collapse, the market predicts that the Fed will increase its policy rate by lower than 50 basis points this month, and the terminal rate is…
