On that day Thailand ran out of foreign-exchange reserves trying to defend its currency from a huge speculative attack.

那一天，泰国为抵抗针对汇率的投机性的攻击，耗尽了自己的外汇储备。

youdao

The snag is that a small revaluation is likely to increase expectations of another future appreciation, attracting yet more speculative capital and swelling foreign reserves further.

ECONOMIST: Economics focus

The increase in reserves, he argues, partly reflects speculative capital inflows.

ECONOMIST: China's economy