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Free AccessBaht Gains On Decline In Thailand's Covid Case Count
Spot USD/THB has extended its rout today, pressured by overnight greenback weakness coupled with a continued improvement in Thailand's Covid-19 situation.
- The rate has punched through its 100-DMA and last sits -0.245 at THB32.810, with bears looking for further losses past Sep 10 low of THB32.618. The next layer of support below is located at THB32.215, which limited losses on Aug 31. Bulls look to a rebound above Oct 18 high of THB33.488.
- Thailand logged the lowest number of new Covid-19 infections today, as officials reported just 6,904 cases. The Cabinet may discuss funding the planned purchase of Merck's Covid-19 antiviral drug.
- The announcement of the next monetary policy decision from the Bank of Thailand is slated for tomorrow. Virtually all analysts expect the MPC to stand pat (our usual preview is forthcoming).
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.