BANGKOK, Thailand –Thai baht opened at 33.99 THB per USD on January 24, holding steady from the previous day’s closing rate. The exchange rate is expected to fluctuate between 33.80-34.15 THB/USD within the next 24 hours.
Overnight, the baht moved within a sideways range of 33.92-34.06 THB per USD, with the baht strengthening toward the 33.90 THB level as the US dollar weakened. This shift followed a pullback in US 10-year bond yields after former President Donald Trump’s speech at the World Economic Forum, where he called on central banks to lower interest rates.
Although Trump did not directly mention the Federal Reserve, his remarks suggest a continued desire for rate cuts, similar to his previous pressure on the Fed during his first term. This, combined with worse-than-expected US jobless claims, has raised market expectations for the Fed to reduce rates twice this year, with a 62% probability.
