27 April 2026 Emerging Asia Monitor THB needed a correction, but its fundamentals are weakening

THB strength is no longer a ‘good headache’ for policymakers, but its wobble is no mere correction…
…We still see a current-account deficit this year, but now at -1%; export leading indicators are tanking.
A painful war punch to Indian exports; we expect net trade to impose a bigger 1.8pp hit on Q1 GDP.

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