Baht up, shares down
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The Thai baht jumped to Bt35.2 against US dollar today, as investors across the world dumped the greenback.
The Thai currency appreciated by 0.14 per cent from yesterday. Year to date, it gained 2.1 per cent against the greenback.
Meanwhile, the Stock Exchange of Thailand Index lost 24 points or 1.84 per cent to close at 1,280.74 points.
The dollar weakened today. US Federal Reserve Chair Janet Yellen sounded optimistic on the US economy in her testimony to Congress last night, but acknowledged risks from market turmoil and a slowdown in China. Analysts took that to mean a hike in March was unlikely, but further tightening remained possible later in the year.
Standard and Poor's Ratings Services said its economists now expect two rate hikes this year, versus four previously.
