BANGKOK, Thailand – Thai baht opened in the morning (January 23) at 33.91 baht per US dollar, weakening from the previous closing level of 33.80 baht per dollar. The baht is expected to trade within a range of 33.75-34.10 baht per dollar over the next 24 hours. Since last night, the baht (USDTHB) has softened slightly, fluctuating between 33.78-33.92 baht per dollar.
This came as the US dollar rebounded modestly, supported by a rise in US 10-year bond yields amid continued risk-on sentiment in the US financial markets, driven by optimism surrounding the Trump 2.0 administration’s AI investment initiative, the “Stargate Project.”
Additionally, the US dollar has been buoyed by the slight weakening of major currencies, particularly the euro (EUR), amid concerns that the European Union may face new import tariffs from the Trump 2.0 administration in early February. At the same time, the rise in US 10-year bond yields has pressured the Japanese yen (JPY) to depreciate further, nearing the 156.50 yen per dollar level.
The Thai baht has also faced additional pressure as gold prices (XAUUSD) have slightly declined, influenced by the strengthening US dollar and rising US 10-year bond yields.
