Goldman Sachs Sees Baht Capped by Intervention to Shield Exports
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Thailand’s central bank may cap a rally in the baht, Southeast Asia’s best-performing currency this year, to protect exporters, according to Goldman Sachs Group Inc.
The baht has gained 1.6 percent against the greenback in 2015, heading for the biggest quarterly advance in two years, according to data compiled by Bloomberg. A Morgan Stanley trade-weighted index for the currency is near a 22-month high, while the balance of payments, a measure of international cash flows, moved to a surplus in January for the first time since July.