Thai baht, Malaysian ringgit sink to three-month lows against dollar

Emerging nation central banks balk at rate cuts to defend currencies

20240215N currencies

A bank employee counts Thai baht. The strong U.S. economy has squeezed the value of emerging-market currencies. © Reuters

TAKAHISA TAMURA, Nikkei staff writer

TOKYO -- Emerging-economy currencies are sliding against the dollar as stronger-than-expected economic indicators in the U.S. undercut expectations of early rate cuts by the Federal Reserve.

The Thai baht was in the range of 36 to the dollar on Thursday, its weakest in three and a half months. Malaysian's ringgit was at 4.7, also a three-and-a-half-month low.

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