BANGKOK, Thailand – Thai baht closed at 33.59 against the U.S. dollar on October 10, after hitting a nearly one-month low of 33.61 earlier in the day. This marks a decline from the previous day’s close at 33.43 baht per dollar. The weakening of the baht mirrors the trend of other regional currencies, driven by foreign investor fund flow signals. Although foreign investors purchased Thai bonds with a net value of 392 million baht today, they sold Thai stocks with a net value of 1,603.88 million baht.
Meanwhile, the U.S. dollar remains strong due to market expectations that the Federal Reserve (Fed) may cut interest rates by 0.25% during the upcoming FOMC meeting in November. However, the Fed is unlikely to reduce the policy rate as aggressively as it did in the September meeting.
The forecasted range for the baht’s movement next week is between 33.40 and 33.80 baht per dollar. Key factors to watch include foreign capital flows, global gold prices, other regional currencies, and U.S. economic data, such as the Producer Price Index (PPI) for September and the preliminary Consumer Confidence Index for October.
