Thai Baht War Losses Set to Deepen on Oil Shock, Strategists Say

The Thai baht has been among the worst performers in Asia since the start of the Iran War and it’s at risk of further losses as the conflict drives up oil prices, strategists say.

The baht is likely to come under renewed pressure given the size of the nation’s energy imports, according to MUFG Bank Ltd. The seasonal pattern of Thailand’s current account will weigh on the currency in the second quarter, Malayan Banking Bhd. says.