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Baht Holds Firm, BoT Minutes Eyed

THB

Spot USD/THB has extended losses after the reopen, resisting pressure from overnight greenback strength. There has been little in the way of notable local news flow.

  • The rate sits -0.045 atTHB33.232 and bears look for further losses past Aug 13 low of THB33.143. The next layer of support is provided by Jul 29/20 lows of THB32.820/32.780. Bulls would be pleased by a rebound above Aug 10 high of THB33.490, which would open up Jul 20, 2018 high of THB33.518.
  • Thailand reported 20,515 new Covid-19 cases today, with a record 312 fatalities.
  • The Cabinet approved THB9.3bn to fund the purchase of 20mn Pfizer jabs and confirmed they want to buy another 10mn shots.
  • The Bank of Thailand will publish the edited minutes from their August monetary policy meeting at 0900ICT/0300BST.
  • The parliament convenes today for a three-day session, during which lawmakers will discuss the FY2022 budget.

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