Chart of the week: Thai baht defies gravity

Tourism is booming, the current account is in surplus, and the yield on local assets is enticing. No wonder the Thai baht has risen by 8% against the US dollar this year.

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Tourism is booming, the current account is in surplus, and the comparatively high yield on local assets is enticing. No wonder the Thai baht has risen by 8% against the US dollar this year. But the currency could soon "fall foul of economic gravity", says William Pesek on Breakingviews. "Populist pump-priming" and rising global growth are boosting Thailand for now.

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