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Thai Baht Rallies, Loses Gains

October 18, 2013 at 13:34 by Vladimir Vyun

Many Thai coins on a baht noteAsian currencies rallied today as the debt crisis in the United States was resolved, at least temporary. Some of them kept gains, other retreated. The Thai baht was among losers.

Riskier currencies were supported by the temporary solution to the US budget stalemate and speculations that the Federal Reserve will not trim stimulus this year. Stable economic growth in China added to optimism of traders. Yet the baht was unable to maintain rally, perhaps because gains spurred speculators to take profit.

USD/THB went up from 31.0150 to 31.0650 as of 13:34 GMT today after falling to 30.9600 earlier.

If you have any questions, comments, or opinions regarding the Thai Baht, feel free to post them using the commentary form below.

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