What's behind the current THB strength?

[n00dle]

On 8/2/2024 at 4:35 PM, Pouatchee said:

 

still passing stupid comments with emojis cos you cant express yourself?

did you misquote>? it doesn't seem you are speaking to transam.

[Cameroni]

Chiang Mai has already correctly explained it in the first post,  the market anticipated an interest rate cut because inflation was easing. That was the main reason for the dollar falling. If the dollar falls other currencies gain in value normally.

 

Then there were a few other, less important, reasons, the BoJ intervention which strengthened the Yen leading to many long UJ traders unwidin their big positions, and therefore causing the USD to decline further, the crazy Israelis precipitating a regional war in the middle east and slightly unexpected US economic markers. There were a few others no doubt as well.

 

As Lacessit said, currencies fluctuate, all perfectly normal.

 

 

[Pouatchee]

On 8/7/2024 at 11:47 AM, n00dle said:

did you misquote>? it doesn't seem you are speaking to transam.

 

i wasnt... might seem that way...

[Chivas]

On 8/7/2024 at 5:27 AM, BuddyPish said:

 

Sorry but I'm afraid YOU are the clueless one . . . . probably because you've spent 19 years on this forum.

Of course it's manipulation. 
When the yen gets too weak, the BoJ steps in and sells dollars to buy up yen to arrest the decline.

That intervention IS manipulation.

Now you might take issue with the use of that word but that's of no consequence to the market or its participants.

You can call it what you like but it is what it is.

 

 

Yet another utterly clueless

[dingdongrb]

1 hour ago, Chivas said:

 

Yet another utterly clueless

...and yet you provide another useless post, nice job!

[chiang mai]

1 hour ago, Chivas said:

 

Yet another utterly clueless

I think the poster pretty much nailed it. BOJ spent around USD 35 bill, selling USD and buying YEN.

 

https://www.ft.com/content/49fd2484-f9c9-4181-88c1-064e787e8a64

[SiamAndy]

As the Fed will lower rates 2-3 times by the end of the year, we could see the dollar decline to 33 Baht. A few minutes ago it was down to 34.38

[david555]

Other news claim rising Teflon  baht is because the new Shinawatra pm ...

Could be as my Euro also is declining ....

Edited August 20 by david555

[mikebell]

On 8/3/2024 at 12:20 PM, Man Mart said:

In relation to sterling, it’s been a result of the anticipated and the actual cut in UK interest rates on Thursday. 

And the new Government + street rioting?

[FlorC]

4 hours ago, SiamAndy said:

As the Fed will lower rates 2-3 times by the end of the year, we could see the dollar decline to 33 Baht. A few minutes ago it was down to 34.38

If true about the lower rates , it will get gold much higher to compensate the higher THB.

[sammieuk1]

The land of the bizarre where sack off the party that won the election fire the replacement PM install someone who no one voted for all in the space of a week and up goes the Baht ..fishy very fishy  🤔  

[david555]

2 hours ago, sammieuk1 said:

The land of the bizarre where sack off the party that won the election fire the replacement PM install someone who no one voted for all in the space of a week and up goes the Baht ..fishy very fishy  🤔  

It happens also in western Europ  that unelected becomes a pm installed by the winning party ....latest  Politician winning "Wilders"party installed a high civill servant as Pm ( The Netherlands eg. "HOLLAND")

Politicians are all alike ....Thailand is no exception 😁

Edited August 20 by david555

[NickyLouie]

Baht is always manipulated prior and during high season.

 

[david555]

1 Euro to Th. Baht 37,91 ....by Google just now
🙄

 

 

Edited August 20 by david555

[Chivas]

As old Bernard Trink would have said

 

"further words superfluous"

 

 

Edited August 21 by Chivas

[Chivas]

22 hours ago, NickyLouie said:

Baht is always manipulated prior and during high season.

 

 

utter nonsense

[Chivas]

Because of the Baht strongly appreciating against the Dollar on opposite side of the pairings its obviously effected Sterling with a likewise quite heavy dip

 

47 right down to 44.65 Interbank

[chiang mai]

22 hours ago, NickyLouie said:

Baht is always manipulated prior and during high season.

 

And on Wednesdays between 11 am and 2:45 pm.

[dingdongrb]

2 hours ago, chiang mai said:

And on Wednesdays between 11 am and 2:45 pm.

...but only if the sun is shinning

[SiamAndy]

USD now down to 33.87 Baht, could it drop to 32 by year end?

[chiang mai]

14 minutes ago, SiamAndy said:

USD now down to 33.87 Baht, could it drop to 32 by year end?

DXY is nearly back to 100 which is a long fall from the 106 of a few months ago, I doubt the US wants a weak USD .....the fall over the weekend was a result of Powell's speech at Jackson Hole, confirming the September rate cut. 32? Possible but improbable is my guess, BOT will likely cut rates also in the coming months.