0124 GMT [Dow Jones] The Thai baht is now stronger than it was Thursday before the military took over the government. The baht initially weakened as low as 32.72 from around 32.45 against the U.S. dollar in the kneejerk reaction to the Thai army declaring a coup late Thursday, but is now at 32.48. The unexpected reaction of the baht to the coup may be due to the reduced likelihood of bloodshed and mass violence now that the army has intervened between the opposing groups of political protestors. However, this extends the political impasse and may be a medium-term negative for Thailand's economy and the baht. USD/THB is now at 32.48 from its Thursday close of 32.58. (ewen.chew@wsj.com)
(END) Dow Jones Newswires
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May 22, 2014 21:24 ET (01:24 GMT)
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