Economics
Tide Turns Against Top-Ranked Asian Currency as Growth Slows
- Easing trade tensions will sap demand for safe-haven baht
- Central bank is ‘actively managing’ exchange rate: Governor
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The Thai baht’s heady gains are petering out, thanks to slowing growth and a central bank that’s bent on taming the currency’s strength.
After clocking an 8% rise this year, Asia’s best-performing currency is losing momentum as easing U.S.-China trade tensions damp its appeal as a haven. Falling yields on local bonds and equity outflows are adding to the pressure.