Baht on the Move: SCB Financial Markets Predicts Tight Range of 33.60-33.85 for Today
SCB Financial Markets Predicts Baht Movement for Today
The Financial Market Group of Siam Commercial Bank (SCB Financial Markets) has evaluated the baht’s movement for today, September 12, 2024, and expects it to range between 33.60-33.85 baht per dollar.
The value of the baht strengthened yesterday due to the outcome of the debate between Mr. Donald Trump, the former President of the United States, and representatives of the Republican Party, and Mrs. Kamala Harris, the Vice President of the United States, and the Democratic representatives. As a result, investors gave less chance to Trump to win the election, causing the dollar index to weaken.
The baht continued to strengthen alongside the Yen after a Bank of Japan board member stated that real interest rates in Japan are so low that the market sees the possibility of the Bank of Japan (BOJ) raising interest rates faster.
However, the baht depreciated this morning after the US core inflation rate came out at 0.3% compared to the previous month, higher than market expectations, causing yields and the dollar to rise.