Baht Seen Defying Bank of Thailand’s Attempts to Halt Gains
- Thai baht breached 30-per-dollar level in late December
- Bank of Thailand has said it’s ready to mull more baht steps
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Baht bulls are on guard as they gauge the Thai central bank’s willingness to take more action to curb gains in the currency.
Measures may include interest-rate cuts and stronger verbal intervention, according to Krung Thai Bank Pcl and Tisco Financial Group Pcl, though the top forecasters for the currency predict the baht will shrug off these moves and climb again in 2020. A Thai monetary policy committee member signaled Monday the central bank will seek to defend the level of 30 to the dollar.