Thailand’s baht, bonds and stocks rose as Prime Minister Yingluck Shinawatra said she will dissolve parliament after lawmakers from the main opposition party quit en masse to join protests aimed at ousting her.
Thailand’s baht gained, extending a rebound from last month’s three-year low to 4 percent, as U.S. lawmakers’ failure to resolve a budget impasse damped demand for the dollar. Government bonds advanced.
Thailand’s central bank raised its benchmark interest rate and signaled further increases after the economy overcame political unrest to grow faster than estimated last quarter. The baht strengthened and stocks fell.
Thailand’s baht appreciated to its strongest level in more than two months as a slide in crude-oil prices eased concern inflation will accelerate and hurt growth in Southeast Asia’s second-biggest economy.