Baht, rupiah under pressure as virus woes support dollar
The Thai baht hit its lowest level in over a year on Tuesday while the Indonesian rupiah fell to an over two-month trough, as growing domestic coronavirus cases and broader concerns about the Delta variant kept the safe-haven U.S. dollar on firm footing.
The greenback hovered just below a two-month high, as investors also awaited a U.S. jobs report slated for Friday that could influence the Federal Reserve's view on stimulus tapering and interest rate hikes.
The baht broke the 32 mark against the dollar for the first time since May 2020, as the country battles its worst coronavirus outbreak, which threatens to pile further pressure on the tourism-reliant economy.
Reference: Reuters
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