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THB slammed into the close as......>

EMERGING MARKETS: THB slammed into the close as BoT step up
- USD/THB hits the day's highs just ahead of the close as the Bank of Thailand
took more aggressive steps to ease THB strength. The Bank of Thailand are to
ease capital outflow rules further and stated that they are ready to take more
policy steps if growth disappoints in the coming months. This looks like a more
aggressive tone from the Bank after yesterday's an MPC member spoke against THB
strength and specifically mentioned 30.00 in USD/THB as a level to defend.
- Petrocurrencies and oil importing FX had another rough overnight session as
Iran launched retaliatory strikes against US installations in Iraq. Much of the
risk-off moves were, however, retraced ahead of the European open as the far
reaching impacts of the strike are seen as limited. This left INR one of the
best performers Wednesday alongside ZAR and TRY.
- Chilean and Brazilian inflation data, minutes from the Hungarian central bank
and rate decisions from Romania and Poland are on the docket.
MNI London Bureau | +44 203-865-3809 |