Baht Reaches Two-Month Low Amid Global Economic Pressures

The Thai baht has reached its lowest level in two months, trading at 33.58 per US dollar on October 2. The currency weakened from 33.36 a week earlier due to rising global oil prices, higher US yields, and tensions in the Middle East.

Kasikornbank predicts that the baht will trade between 33.20 and 33.90 per dollar next week, with markets watching key economic indicators such as Thai inflation, Middle East developments, and global bond yields.

The baht's decline was also influenced by a decrease in gold prices below $4,200 per ounce and the strengthening of the US dollar amid concerns over inflation expressed by Federal Reserve officials and higher US Treasury yields.