Thailand's baht, bonds set for weekly slide on Fed rate outlook | Bangkok Post: business

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Baht, bonds set for weekly slide

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Thailand's baht was poised for its first weekly drop this month and bonds declined after the Federal Reserve said it may raise United States borrowing costs. 

The currency fell the most since June on Thursday after Fed Chair Janet Yellen said interest rates may be increased about six months after the monetary authority ends its stimulus program later this year. The baht touched a three-month high on March 19, a day after Thailand’s cabinet approved ending the state of emergency that was imposed on Jan 22. The decree was lifted before it was set to expire on March 23.

"We have a mixed picture for the baht," said Paisarn Lertkowit, a currency trader at Bangkok Bank Pcl in the city. "The Fed comments should be dollar positive, but there was some easing concern among offshore investors about Thai politics that led to some baht demand."

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