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Baht Gives Up Initial Gains

THB

Spot USD/THB re-opened on a softer footing, before trimming losses. The rate sits +0.003 at THB33.213 and a break above Jan 31 high of THB33.467 would bring Jan 10 high of THB33.747 into play. Bears would be pleased by a fall through trendline support/Jan 20 low at THB32.880/32.822, which would expose the 200-DMA/Nov 18 low at THB32.665/32.565.

  • Thailand's "Test & Go" programme is up and running again, with 2,500 foreign visitors arriving on day one. Meanwhile, the government is looking into measures to woo wealthy foreigners for longer stays.
  • Reminder that Thailand's Ministry of Commerce will publish monthly CPI data on Friday, ahead of next week's BoT monetary policy meeting.

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