The USD/THB bulls gain momentum, with the pair showing a 0.56% spike. Favorable PMI data and stable unemployment figures, coupled with the Federal Reserve's unwavering stance favor the USD. Markets are giving up their hopes of a cut in September by the Fed. The USD/THB pair is gaining strength rising to 36.60 on Thursday due to the Federal Reserve's persistent hawkish stance on maintaining high interest rates.
In addition, the US Labor Department declared a smaller-than-anticipated rise in unemployment benefits, which marked another positive note for the US economy. All these factors, combined with the Federal Reserve's steadfast commitment to high interest rates, benefited the Greenback against its peers on Thursday. In that sense, according to the CME FedWatch tool, markets have practically given up the hopes of a cut by the Fed until September.