Baht soars, biggest gain in a yearThe baht surged the most in a year on Thursday, defying a selloff among emerging Asian currencies and testing the central bank’s patience after it warned of economic risks from continued appreciation. The baht advanced as much as 1.1% against the dollar, the most since June 2019. The Thai currency has breached its 200-day moving average resistance, a technical pattern that could encourage speculative inflows. The baht strengthened 0.7% as of 10.40 am, climbing for the fifth straight day. Thai stocks slid as much as 0.7% before paring some of the decline to trade little changed.

Source: Bangkok Post June 10, 2020 23:49 UTC