Forex Signals – Thai Baht is Asia’s Top Outperformer (Bloomberg) — After lagging other Asian currencies for most of the year, Thailand’s baht has staged a sharp rebound to outperform its peers.
The baht has rallied almost 1.5% in May after dropping over 7% in the first four months of 2020. The catalyst? Traders are betting Thailand’s tourism-dependent economy will recover swiftly from the virus-induced slump as economies begin to reopen.
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Analysts say a relaxation of curbs will boost confidence. Thailand has allowed shopping malls to resume business as part of a phased rollback of its lockdown, even as it remains in a state of emergency through May Forex Signals – Thai Baht is Asia’s Top Outperformer.
“Thailand has done well to contain the coronavirus outbreak, with the country gradually reopening businesses and easing restrictions,” says Chang Wei Liang, a macro strategist at DBS Bank Ltd. in Singapore. “This has given investors confidence that tourism could recover over time, in turn supporting the baht.”
(Bloomberg) — Australia’s sovereign bond market is re-emerging as an attractive proposition for Japan’s yield-hungry investors.“We view Australian sovereign bonds quite constructively and have started buying, including at last week’s sale,” said Akira Takei, a Tokyo-based global fixed-income money manager at Asset Management One Co. “Australia’s yield curve is outstandingly steep among developed nations, which makes the bonds attractive.” So learn more about Forex Signals.
FILE PHOTO: A Thailand Baht note is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration/File Photo
With Australia’s 10-year yield edging back up toward 1%, Japanese money flowing into the securities looks set to increase.
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