OCBC analysts say the baht’s recovery remains limited without a broader decline in the USD amid equity outflows and central bank caution.
The Thai baht’s recent rebound has stalled near 33.40 against the USD, encountering interim resistance after a sharp rise. Analysts note the recovery may lack depth unless the USD weakens more broadly.
Bank of Thailand officials link the baht’s weakness to persistent USD strength and outflows from Thai equities. The central bank has signaled readiness to intervene if currency volatility becomes excessive, though no immediate action has been taken.
Market focus remains on external USD dynamics and capital flows, with the baht’s near-term trajectory dependent on broader dollar trends.