The baht falls through the psychological support of 32 on Wednesday. (Photo by Apichit Jinakul)Asia’s best-performing currency in the first quarter, the baht, is starting to lose its momentum amid political gridlock, a stronger US dollar and speculation of dividend-related fund outflows. The Thai currency weakened to as low as 32.049 per dollar, the weakest level since Jan 9, and falling through the psychological support of 32. The bank expects a recovery of the baht to 31.75 by end-June. The baht has weakened 0.9% against the dollar this quarter, following a 2.5% gain in the first three months of 2019.

Source: Bangkok Post April 24, 2019 06:15 UTC