Thai baht faces worst day in 23 years as strong dollar pressures Asia FX

THE Thai baht slumped on Monday and was staring at its biggest fall in 23 years, as most stock markets and currencies in Asia declined after strong U.S. jobs data raised concerns that the Federal Reserve could keep interest rates higher for longer.

The baht weakened 1.6% against the U.S. dollar to 33.525 and was on track for its worst session since September 1999, while equities in Bangkok fell 0.2%.