Thai baht briefly strengthened below THB34 level on Friday against the US dollar after the Fed delivered a 25bps rate cut before reversing back to slightly above the THB34 level.
According to reporters on November 8, the international trade and monetary market branch of TMBThanachart (TTB) revealed that during the opening hours of the morning session on Monday, the Thai baht strengthened to 34.05 THB/USD from 34.32 THB/USD yesterday.
The dollar was weakened by the Federal Reserve’s decision to cut the interest rate by another 0.25 percentage points, as expected.
Jerome Powell, chair of the Federal Reserve, stated after the meeting that the Fed has not made a decision on the policy for December yet, but affirmed that even under the current uncertainty, the Fed is ready to adjust the monetary policy to an appropriate direction.
Yesterday, the Monetary Policy Committee of the Bank of England had a resolution with an 8-1 vote to reduce the interest rate by 0.25 percentage points to 4.75%.
