Baht falls to 9-month low, broader market rebounds

The baht hit a near nine-month low on Tuesday, extending losses for a seventh straight session, as the US Federal Reserve’s recent hawkish turn continued to weigh on the currency. Equity markets across Asia tracked a global overnight rebound on Wall Street, as market participants turned their attention to economic growth. The baht, which has come under pressure along with its regional peers after the Fed last week indicated earlier than expected policy tightening, dipped to its lowest since Sept 30, 2020. “The baht’s recent weakening is largely due to the US Fed’s recent hawkish pivot, likely ...