(Bloomberg) — A sharp reversal in Thailand’s baht has sent it heading back toward a key resistance level, with the prospect of a dovish central bank meeting this week threatening to add to a growing list of bearish catalysts.
Having finished February as Asia’s best-performing currency, the baht has slumped about 3% against the dollar in March, falling to second worst in the region behind the beleaguered yen. A breach of the closely watched 34 per dollar level — just one percentage point away — would take it to a five-year low and open up the door for further losses.
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