The US Federal Reserve raised its policy rate by 0.25% to 3.75-4.00%, its first hike since July 2023, and its new dot plot points to about one more hike this year. The baht opened at 33.39 per dollar, weaker than the prior close of 33.28. Krungthai Global Markets sees two-way risk for the baht in the short term, tied to Fed expectations and Middle East developments. If you pay for imports in dollars, or hold dollar-linked costs, budget for a weaker baht and consider hedging options. Dollar loans and US-linked costs may also get more expensive.