Baht touches 11-week high
- Published: 6 Aug 2012 at 10.55
- Online news: News
Thailand's baht touched an 11-week high as better-than-expected United States payroll data encouraged risk-taking. Government bonds advanced.
The MSCI Asia Pacific Index (MXAP) of shares climbed the most in more than a week after a Labour Department report on Aug 3 showed US employers added 163,000 jobs last month, more than the median estimate in a Bloomberg survey for 100,000 positions. Global funds bought $84 million more local equities and $983 million more Thai government debt than they sold last week, according to data from the stock exchange and the Thai Bond Market Association.
"An equity rally and the improving risk sentiment are boosting the baht and other regional currencies," said Disawat Tiaowvanich, a foreign-exchange trader at Bangkok Bank Pcl. "A main theme this week remains whether the US will introduce quantitative easing.”
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