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Thai Baht Weakens Amid US Tariff Hikes on Steel and Aluminium

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Thai Baht Weakens Amid US Tariff Hikes on Steel and Aluminium

The Thai baht is expected to depreciate as the US raises tariffs on steel and aluminium imports to 25%, strengthening the US dollar. The baht opened at 33.96 per dollar but weakened past 34 during trading, reaching its lowest in a week. Market analysts warn of further declines if it surpasses the 34.10 resistance level. Global trade tensions and a potential delay in US Federal Reserve rate cuts could sustain pressure on the baht. Analysts project short-term fluctuations between 33.85-34.15 per dollar, with ongoing volatility depending on US trade policies.

 

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