Thailand will report today that gross domestic product (GDP) probably grew 6.6% in the April-to-June period from a year earlier, after five quarters of contraction. The focus will likely be on the evolving growth trajectory, given the ongoing pandemic and rising political risks from the latest anti-government protests, according to ING Groep NV. The baht is the worst-performing emerging Asian currency this year.
NEW YORK: Slowing economic recovery amid a resurgent pandemic is leaving emerging-market currencies vulnerable to a selloff if Treasury yields rise again.
While the influence of US borrowing costs on developing-nation currencies has waned in recent months, it may return to prominence for riskier assets as the cushioning effects from China’s growth rebound and low inflation weaken, according to money managers including Fidelity International and Credit Agricole CIB.
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