Thai baht’s nascent recovery is set to solidify with the nation’s central bank seen sticking to its hawkish stance this week, a move that should help take the currency out of the doldrums of ongoing political uncertainty.
The Southeast Asian currency is poised to gain nearly 3% in July, after weakening for three straight months. While the rally can partly be attributed to dollar weakness spurred by bets that the Federal Reserve may be close to peak rates, Bank of Thailand’s hawkish stance may help extend its rally.
