USD/THB Surges on Softer Thailand Inflation
The Thai baht weakened against the US dollar on Monday after Thailand's consumer prices rose 2.42%, measured on a yearly basis, in June, compared with 2.79% in the previous period. The markets predicted a firmer print of 4%. However, Thailand's inflation rose for the third month in a row after a long deflation period, though it stayed within the central bank's 1%-3% target range. The next mild impact event for the Thai baht will be the Monetary Policy Meeting Minutes, due on July 8. For the USD, the major event will be the speech from Federal Reserve Governor Christopher Waller, due later in the day. At the time of writing, the USD/THB pair was trading at 33.342 during American trading hours on Monday.
The Thai baht weakened against the US dollar on Monday after Thailand's consumer prices rose 2.42%, measured on a yearly basis, in June, compared with 2.79% in the previous period.
The markets predicted a firmer print of 4%.
However, Thailand's inflation rose for the third month in a row after a long deflation period, though it stayed within the central bank's 1%-3% target range.
The next mild impact event for the Thai baht will be the Monetary Policy Meeting Minutes, due on July 8.
For the USD, the major event will be the speech from Federal Reserve Governor Christopher Waller, due later in the day.
At the time of writing, the USD/THB pair was trading at 33.342 during American trading hours on Monday.