The Thai baht fell after rising initially. Currencies’ moves are somewhat volatile today as traders are trying to digest Chairman Ben Bernanke’s comments about the future policy of the US central bank.
The Federal Reserve Chairman explained that he wants monetary policy to be flexible and able to respond to the changes of the economy. He also said that trimming of asset purchases would not mean an end to accommodative policy. All in all, Bernanke’s speech returned risk appetite to the Forex market, allowing the baht to rally. Yet the currency gave away its gains as of now.
USD/THB rose from 30.9850 to 31.0450 as of 15:27 GMT today.
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