Illustrative photo (Source: AFP/VNA) Market strategist Poon Panichpibool at the bank Krungthai, as cited by The Nation newspaper, predicted the currency would likely move between 37.20 and 37.90 during the week.
Poon said that the fluctuating baht might weaken to near its resistance level between 37.80 to 37.90 if the market remains in a risk-off state over concern of another US Federal Reserve rate hike and the falling gold price.
He advised monitoring inflows to Thailand after a slowdown in selloffs of Thai assets by foreign investors helped curb the baht’s weakening.
Meanwhile, he said the dollar could continue to strengthen and advised close monitoring of US inflation via the latest consumer price index./.
VNA
