Baht’s Biggest Gain in Year Tests Bank of Thailand Patience
- Thai currency has breached 200-day moving average resistance
- Central bank said Thai investors, funds are repatriating money
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Thailand’s baht surged the most in a year, defying a selloff among emerging Asian currencies and testing the central bank’s patience after it warned of economic risks from continued appreciation.
The baht advanced as much as 1.1% against the dollar on Thursday, the most since June 2019. The Thai currency has breached its 200-day moving average resistance, a technical pattern that could encourage speculative inflows.