Thailand may see lesser US tourists already ongoing from October '15. Wasn't that when FED started printing?
Note the volumes of late '08 and '09 and now at higher levels than previous years from March '18 till date. If spikes like March '09 repeat this pair might hit new record lows. Even more as the diagonal downtrend may be recognised as part of a and signal a accelerated breakdown.
UJ agrees as USD devaluation has broken pre-covid lows back July and momentum has not signalled to reverse imho.