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Asian currencies experienced a dip today, with the Thai baht and Indonesian rupiah bearing the brunt of the losses. This was mainly due to the rising strength of the US dollar, bolstered by robust economic indicators and the threat of inflation from the Federal Reserve, which have pushed US bond yields to a 16-year peak. … …

The story US dollar surge hits Asian currencies: Thai baht suffers as seen on Thaiger News.

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The Bank of Thailand’s policy decision, set to be announced on Wednesday, is now the centre of attention. Analysts polled by Reuters widely predict that the central bank will maintain its key policy interest rate at 2.25%.

If that happens, then the BOT has chosen economic growth over the strength of the Baht. Not saying that is right or wrong, just at this point in time it's a choice that had to be made. The only other thing they can do is restart the purchase of Baht to stabilize the price. The fact they recently stopped doing so says that's not likely (a smart choice). The US on the other hand isn't done raising interest rates. While they are slowing it down, not doing so at the last meeting. They also clearly signaled they are not done as inflation is still too high. Expect another half to full percent by the end of the year. 

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