That said, the Thai central bank still has one thing going for it now. Thailand does not now, as it did in the summer of 1997, have to defend a fixed exchange rate regime. Let's hope they keep their hands off the baht. Let nature take it foreign exchange course, gentlemen.
David DeRosa, president of DeRosa Research & Trading, is also an adjunct finance professor at Yale School of Management and the author of In Defense of Free Capital Markets.
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