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Baht Hits Fresh Cycle Low, BoT Up Today

THB

Spot USD/THB registered a fresh cycle high in early trade and last sits +0.063 at THB33.080, ahead of the upcoming monetary policy announcement from the BoT. Bulls now set their sights on Apr 2, 2020 high of THB33.177. Bears would be pleased by a retreat under Jul 29 low of THB32.820, towards Jul 20 low of THB32.780.

  • Thailand's Covid-19 case count topped 20,000 for the first time today, while daily deaths reached a new record high of 188.
  • The Cabinet agreed yesterday to double its Covid-19 relief budget to THB60bn to fund economic aid measures for people and businesses from the 16 provinces added to the lockdown list.
  • The Bank of Thailand will deliver their monetary policy decision today at 0805BST/1405ICT. Analysts are virtually unanimous in expecting benchmark policy rate to remain on hold. Click here to see our comprehensive preview.

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