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SCB X Public Company LimitedBaht strengthens rapidly to 33.10–33.35 per dollar as crude oil tumbles
Digital FinanceGeopoliticsCommodity
The financial markets group at Siam Commercial Bank assesses that the baht moved today in a range of 33.10 to 33.35 per dollar. The baht strengthened rapidly in line with a sharp drop in crude oil prices after the US Treasury Secretary said an agreement to reopen the Strait of Hormuz could be reached as early as today or tomorrow, pushing Brent below 80 dollars per barrel for the first time in three weeks. Meanwhile, the US Federal Communications Commission is preparing to ban imports of certain data center components from China to protect US data center infrastructure. Data from the Bank of Japan still shows no clear sign of large-scale yen intervention on Monday.
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