Thai baht losses set to deepen on oil shock, analysts say

Singapore – The Thai baht has been among the worst performers in Asia since the start of the Iran War and it’s at risk of further losses as the conflict drives up oil prices, analysts say. The baht is likely to come under renewed pressure given the size of the nation’s energy imports, according to MUFG Bank. The seasonal pattern of Thailand’s current account will weigh on the currency in the second quarter, Malayan Banking says. The Thai currency has already weakened more than 4 per cent against the US dollar since the war began on Feb 28, trailing only…