BANGKOK, Thailand – The Global Markets Group at Bank of Ayudhya Public Company Limited (BAY) forecasts that the Thai baht will trade within a range of 34.00-34.75 baht per US dollar this week. This comes after the baht strengthened to close at 34.24 baht per dollar last week, trading within a range of 34.21-34.78 baht.
The US dollar weakened against most major currencies last week despite initial support from former President Donald Trump’s announcement of a proposed 25% import tariff on all goods from Mexico and Canada, effective immediately upon his return to the presidency. Trump also suggested an additional 10% tariff on Chinese imports, citing the measures as a response to drug trafficking and illegal immigration issues.
BAY analysts note that these geopolitical and policy-driven developments are key factors influencing the baht’s movement, alongside global and domestic economic dynamics.
