GBP/THB rate sharp dive

[omnipresent]

GBP/THB was doing quite well this year until diving sharply since a couple of days ago. What's going on?

 

 

 

 

https://www.xe.com/currencycharts/?from=GBP&to=THB&view=1Y

[jaideedave]

  On 7/19/2023 at 9:42 AM, omnipresent said:

GBP/THB was doing quite well this year until diving sharply since a couple of days ago. What's going on?

 

 

 

 

https://www.xe.com/currencycharts/?from=GBP&to=THB&view=1Y

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My Canuck buck and others have done the same.I think the operative word here is "manipulation" but of course I could be wrong.

[churchill]

UK inflation lower than expected , so BOE interest rate rises less than expected . GBP lower .

[Kwasaki]

Sharp dive from 45 to 44 you having a laugh or what.

[scubascuba3]

It seems to be Pita related, vote today maybe they expect it to go through, currencies weakened 1%ish yesterday, more today

[Gaccha]

  On 7/19/2023 at 9:54 AM, churchill said:

UK inflation lower than expected , so BOE interest rate rises less than expected . GBP lower .

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This.

 

As soon as inflation levels were lower than expected, the market will anticipate lower interest rates, which will naturally mean a weaker pound.

 

Economics 101.

[anterian]

British inflation lower than expected, so Bank interest rate will not increase, so Pound less attractive to investors.

 

[KhunBENQ]

  On 7/19/2023 at 9:42 AM, omnipresent said:

What's going on?

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It's not a Pound thing, it's a Baht surge.

 

[Pumpuynarak]

  On 7/19/2023 at 12:39 PM, KhunBENQ said:

It's not a Pound thing, it's a Baht surge.

 

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Yes the Baht has surged due to the optimism of Thailand's new parliament but.......

LONDON (Reuters - The pound fell on Wednesday after data showed UK inflation slowed faster than expected in June, relieving some of the pressure on the Bank of England to keep raising interest rates.

British annual consumer price inflation fell to a lower than expected 7.9% in June, according to government statistics, below a forecast for a decline to 8.2%.

[Chivas]

Sterling weakened against the USD whilst at same time the Baht strengthened against the USD

Both pairings going in the wrong direction as regards bottom line of Sterling/Baht

[mancub]

  On 7/19/2023 at 11:24 AM, anterian said:

British inflation lower than expected, so Bank interest rate will not increase, so Pound less attractive to investors.

 

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More to it than that. GBP gaining against USD today, yet still falling against THB, as is EUR .                                YUAN, however has shown a sharp rise against THB.

[gamb00ler]

DELETED

cockpit error!

[omnipresent]

  On 7/19/2023 at 10:07 AM, Kwasaki said:

Sharp dive from 45 to 44 you having a laugh or what

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It was very steep, as you can see in the chart, so "sharp" (as opposed to "large", which you might have mistaken me as expressing) is accurate.