Currency Note Worldwide

Thai baht under pressure

By Smart Currency November 21st, 2013

Elsewhere yesterday, the Canadian dollar climbed against the majority of its major peers following comments from several members of the FOMC that suggest the US Federal Reserve will not reduce monetary stimulus in the near term. Continued monetary stimulus in the US is good news for the export-reliant Canadian economy, with the US being Canada’s biggest trading partner. The Thai baht fell to two months lows following political uncertainty surrounding the elected senate, and protestors staging demonstrations in Bangkok. Traders are selling off the Thai baht amid fear that this unrest will further slow the economy. The Russian rouble also hit its lowest level in two months as the central bank revoked the license of Moscow-based OAO Bank, one of Russia’s main retail banks, for repeatedly breaching money-laundering laws. Today we have a monetary policy statement from the Bank of Japan, and tonight we have a statement from the Governor of the Australian Central Bank. Get in touch with your trader for a live rate.