A new low for the Thai baht looms and not even a rate hike by the central bank is likely to halt its slide.
The Asian currency weakened for its third straight week against the dollar, closing at 34.77 on Friday and heading toward February’s year-to-date low of 35.39. Hurdles to the Move Forward party coalition are growing, increasing political uncertainty over who will form the next government which is weighing on the baht by spurring foreign funds to sell both the nation’s equities and bonds.
Read More : Thai Baht Faces Mounting Pressure Amid Ongoing Political Uncertainty