Baht continues to gain | Bangkok Post: business

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Baht continues to gain

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The baht continued to gain strength on Wednesday, as policy makers said they would take steps to rein in the Thai currency if necessary 

The market expected currencies of most emerging economies to be under significant pressure to appreciate as the US Fed, Bank of Japan and the European Central Bank were likely to keep pumping in new liquidity to prop up their economies in foreaseeable future. 

Kobsidthi Silapachai, Kasikorn Bank’s Head of Capital Market Research, said investment funds’ actions of seeking gains from currency changes and interest rate differential in short-term bonds in the domestic market every Tuesday had been a big factor pushing the baht up in recently.

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