BANGKOK, Thailand – Thai baht closed on Wednesday (Jan 8) at 34.61 baht per US dollar, weakening from yesterday’s close at 34.48 baht. The depreciation aligns with other Asian currencies and the Chinese yuan, which hit a 16-month low during the day amid concerns over escalating US-China trade tensions.
The baht’s movement was further influenced by sustained sentiment for the US dollar, driven by expectations that the Federal Reserve might delay interest rate cuts this year.
Foreign investors showed mixed behavior today, with a net sell of Thai equities worth 1,114.92 million baht but a net purchase of Thai bonds worth 1,107 million baht.
For Thursday, the baht is expected to move within a range of 34.50-34.80 baht per dollar. Key factors to watch include foreign fund flows, the yuan’s trajectory, global gold prices, and the US weekly jobless claims data.
