The Thai baht led losses amid mixed trade in most Asian currencies on Tuesday, as US economic data pointed to sluggish growth in the country’s services sector, strengthening the case for a pause in interest rate increases by the Federal Reserve next week.
The baht weakened as much as 0.7% and was trading close to 34.80 to the US dollar, logging its worst session in two weeks. That came after the May headline inflation rate dropped to 0.5% year-on-year — its lowest in 21 months — due to lower energy and food prices and a high base in 2022.
