This morning the bath value appreciated to 34.97 baht against a US dollar, its strongest level in five months, compared to its close yesterday at 35.26 baht per dollar.
Kanchana Chokpaisarnsilp, a research executive at Kasikorn Research Center, said Asian currencies including baht appreciated as US dollar weakened after Federal Reserve chairman Jerome Powell said interest rate increase could slow down in December.
Poon Panichpibool, markets strategist at Krungthai Global Markets of Krungthai Bank, said players in the monetary market of the United States were less concerned about the interest rate increase by the Fed and fully exposed themselves to risks as Mr Powell agreed with other Fed officials to slow down the Fed’s rate hike. However, the Fed chairman insisted that the Fed would continue to raise its policy rate until it could control inflation. (TNA)