Thai move negative for EM currencies: UBS

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Vital developments have taken place in our global regional peer market Thailand. Ashley Davies, Forex Strategist of UBS analyses the situation.

 

He says that foreigners are worried about the costs now involved in carrying out transactions using the bath. More importantly, he says that this move is defiantly negative for emerging currencies.

 

According to him, this move implies that policy makers are a bit tired of carry trade. However, he feels that this move is not likely to be replicated by other Central Banks.