American Mo Martin, the 2014 champion, is one of the shortest from the tee on Tour but she proved she is something of a British Open specialist with a 69 for third place on 11 under par. Catriona Matthew, with a 71, was the top Briton on 10 under.
Jutanugarn played in her first LPGA event when she was just 11 -- she was the youngest ever qualifier at the Thailand LPGA Classic, and now she may be able to break through for her first major.
Ko could have been further up the leaderboard, until a double-bogey at the 18th rather spoiled her otherwise flawless card.
"I wasn't putting great the first two days, but some started to fall today," said the New Zealand 19-year-old who currently holds two major titles.
"It was a tough way to finish but hopefully I can go even lower tomorrow."
Ko had made the top three in her last five major tournaments, but can still card a strong placing with a fine final round tomorrow morning.
- With AFP