The baht was poised for its best week in five months as foreign investors increased their holdings of the nation’s assets amid optimism that a global economy recovery is brightening the outlook for Asian exports.
The currency touched its strongest level in more than three weeks as exchange data show global funds bought US$310 million more Thai equities than they sold in the first four days of this week, set for their biggest weekly net purchase since November.
US retail sales rose 0.5% in August after a 0.2% gain in July, according to a Bloomberg survey of economists before data due today. The Federal Reserve may cut its monthly bond purchases by $10 billion at its Sept 17-18 policy meeting, a separate survey showed.
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