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Baht Holds Familiar Range, BoT Up This Week

THB

Spot USD/THB has edged higher, albeit the prior day's range remains intact. The rate sits +0.060 at THB30.908, with bulls looking for a break above Mar 19 high of THB30.965, before taking aim at THB31.200. Bears need a pullback under the 200-DMA at THB30.802 before targeting Mar 18 low of THB30.660.

  • Thai Dept of Disease Control said that it detected a fresh cluster of Covid-19 infections among migrant workers in Samut Prakan, with the province re-emerging as a Covid hotspot.
  • The Bangkok Post reported that the "Finance Ministry has ordered the Customs Department to step up its search for ways to reduce the impact of the exemption on import tax and value-added tax (VAT) for imported goods worth up to 1,500 baht, saying such measures are hurting small and medium-sized enterprises (SMEs)."
  • Thailand's Customs Office will release the monthly trade report on Wednesday, while the BoT will publish its weekly update on foreign reserves on Friday.
  • In addition, the BoT will deliver its latest MonPol decision on Wednesday. Consensus is for no change to the benchmark interest rate.

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