The Baht traded in a range of THB30.15-32.43/USD in 2019 (data as of December 27, 2019). The Baht rose early in the year amid uncertainty about the timing of the Fed's rate hikes. However, the Baht pared those gains later in 2Q-2019 on the back of net foreign stock and bond selling orders, as investors awaited to assess the domestic political situation after the Thai election.
However, the Baht has rebounded since late 2Q-2019, and hit an over 6-year high of THB30.15/USD, as the US dollar fell on the Fed's rate cuts. Meanwhile, the Baht gained because of its strong fundamental factors, in particular a current account surplus, as well as the perception that the Baht is a safe-haven currency amid concerns about the US-China trade dispute. However, trade tensions eased somewhat after both countries agreed to the first phase of trade agreement.
Enter the code from the poll