The Thai baht advanced today as signs of economic growth in China improved the investors’ risk sentiment, leading to increasing demand for assets of emerging economies.
Recent macroeconomic data suggests that China’s growth remains robust, despite previous signs of weakness. It made traders more interested in higher-yielding currencies. The baht profited from this as capital inflows into Thailand increased. Overseas funds expanded their holding of Thai stocks by more than $100 million on each of the last two days.
USD/THB declined from 31.9250 to 31.7350 as of 12:03 GMT today and its daily low was at 31.6200.
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