Weak U.S. Economic Data Weighs On The U.S. Dollar, USD/THB Continues To Fluctuate Lower

USD/THB was weak on Thursday, falling 0.35% to trade around 36.20. Dovish bets on the Federal Reserve (FED) are heating up following lower-than-expected consumer price index (CPI), weak U.S. jobless claims last week and a decline in the Philadelphia Fed manufacturing survey.

The number of people filing for unemployment benefits in the United States last week hit a high of 222,000 in the week ended May 3, exceeding expectations, and the previous reading was revised upward to 232,000. Continued weakness in the U.S. economy may put pressure on the Federal Reserve (Fed) to cut interest rates early. However, the market still believes that the Fed will start easing policy in September, but if economic data continues to be strong, the Fed may consider cutting interest rates in July.

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