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Thai Baht: Trade deficit fuels weakness against US dollar – MUFG
Lloyd Chan at MUFG focuses on Thai Baht as a key expression of the Oil shock in Asia. He cites September trade data showing a sharply wider deficit, driven by surging imports outpacing strong exports. MUFG expects the Bank of Thailand to keep its policy rate at 1.00% to support growth, leaving USD/THB biased higher while Oil remains elevated.
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