Inflation caused by money printing. The US, UK and EU have printed masses of money and thats causing inflation and a probable recession looming.
The weird one is that the US market is so large that the fear of inflation/recession is causing a run TO the dollar away from stocks, futures, etc. A massive run at the moment, and thats causing the dollar to strengthen massively while markets crash. This is of course counter intuitive because inflation weakens the spending power of the dollar at home.
The baht is actually weakening and has been for some time BUT I personally expect that to change rapidly once the US announces a peak is reached in inflation because the money will then run from the dollar to other holdings. Tonight is CPI day in the US, watch for big changes in the dollar depending if thats above or below 8.1%.
One could argue that baht currency movements are not as direct result of whatever Thailand does but what other currencies do.