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Baht Dips To Four-Year Low, BoT Speak Eyed

THB

Spot USD/THB started on a firmer footing amid broader aversion to take more risk inspired by China COVID-19 updates & above-forecast U.S. CPI data released Friday. The pair last operates +0.073 at THB34.833.

  • Resistance from May 13 high of THB34.783 gave way and bullish focus turns to THB35.425, which limited gains on Mar 10, 2017. Bears need losses past Jun 6 low of THB34.300 before taking aim at May 30 low/May 5 low/round figure of THB34.048/34.018/34.000.
  • Local headline flow has been light since the end of play Friday, while domestic data docket offers little of real note this week.
  • BoT Gov Sethaput is due to speak on building economic immunity within an hour. Elsewhere, PM Prayuth will chair Board of Investment's meeting.

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