Baht rises to two-week high
- Published: 17 Oct 2013 at 10.50
- Online news:
Thailand's baht rose to a two-week high, tracking gains in regional currencies, after the United States moved toward ending a budget impasse. Bonds were little changed.
The Senate voted 81-18 to halt the shutdown that began Oct 1 and raise the US debt limit. The House of Representatives will also vote on the agreement, which is aimed at preventing the country's borrowing authority from lapsing on Thursday.
The baht is benefiting as the fiscal standoff in Washington over the past four weeks probably means the Federal Reserve will delay cutting stimulus, said Kampon Adireksombat, a senior economist at Tisco Securities Co in Bangkok.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.