Mitsubishi UFJ: Thai baht and other Asian currencies against the US dollar are under pressure due to prolonged high US interest rates.

Golden Ten Data reported on June 25 that Mitsubishi UFJ Financial Group Senior Forex Analyst Lloyd Chan stated in a research report that, in an environment where US interest rates remain high for a longer period, the Thai baht and other Asian currencies are under pressure against the US dollar. He said that this “is likely to become a short-term downside pressure for regional currencies, especially for lower-yielding currencies.” Mitsubishi UFJ Financial Group maintains a negative outlook on the recent trend of the Thai baht. Chan said: “Although the Bank of Thailand expects economic growth to be stronger this year, there are still concerns that economic growth remains sluggish and uneven.”