The Thai baht has appreciated against the U.S. dollar on Thursday following the shaky sentiment in the U.S. as President Donald Trump touted firing the Federal Reserve’s Chairman Jerome Powell.
At 10:25 local time in Bangkok, the USD depreciated 0.17% to THB 32.465 per dollar, according to LSEG data. It ended its previous session at THB 32.52 per dollar.
The U.S. dollar dropped in early session on Wednesday, but soon recovered from its low after U.S. President Donald Trump clarified on Wednesday that he does not intend to dismiss Federal Reserve Chair Jerome Powell as per the report from Bloomberg earlier.
Despite Trump’s assertion to keep Powell, a source familiar with the situation disclosed to Reuters that the President remains open to the idea of replacing him.
Prior to Trump’s assurance, he had ramped up his criticism of Powell for maintaining interest rates. Trump reportedly explored the possibility of firing Powell in discussions with some Republican lawmakers, who appeared supportive of the move, as per the same source.
It was reported earlier that President Trump is considering removing Federal Reserve Chair Jerome Powell from office, according to a White House official familiar with the matter.
