(Bloomberg) — The battle over the Thai baht intensified in the new year, with the currency dropping sharply even before domestic markets opened.The baht plunged as much as 1.8% on Thursday, the biggest decline since 2007, to 30.226 against the dollar in early Asia trading. That almost erased all the gains it made in the past three sessions. The currency was trading at about 30.11 against the dollar as of 8:31 a.m. London time.“It’s likely to be central bank intervention given that the central bank has mentioned that they’ll be fighting against baht strength,” said Mingze Wu, a foreign-exchange trader …read more
Source:: Yahoo Finance
