Notching a fourth straight session of gains, the baht appreciated 0.3% to 33.26 per dollar, its highest since late November. The Thai currency's strong start to 2022 comes after it suffered its worst decline in two decades. The baht depreciated 11% last year as the Covid-19 pandemic hammered Thailand's key tourism sector. Elsewhere, prospects of an early US Federal Reserve (Fed) interest hike despite surging Covid-19 cases put Asian currencies on the back foot. He expects the Thai currency to hold in a range between 32.75 and 33.50 per dollar before strengthening by the end of 2022.

Source: The Edge Markets January 04, 2022 18:35 UTC