The Thai baht is set to weaken following foreign outflows from the stock and bond markets.
The Thai baht today is traded at Bt35.13 per US dollar, gaining nearly 2 per cent since the beginning of this year.
Maybank Kim Eng Securities (Thailand) expects a reversal of the trend this month due to tightening by the US Federal Reserve.
Net foreign outflows yesterday were tuned at Bt6 billion: Bt2.4 billion from stocks, Bt2.8 billion from short-term bonds and Bt0.8 billion from long-term bonds.
Foreigners were also net sellers of Thai stocks and bonds on Monday, with net-sell positions worth Bt3.2 billion.
This is all rather above my limited financial knowledge but I’m hoping the GBP will benefit too.
(Source:The Nation,Thailand)