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Baht Looks For Directionality, Cabinet Meeting On Tap

THB

Spot USD/THB trades +0.040 at THB35.330 at typing, holding to a very tight range thus far. Bulls need Mar 10, 2017 high of THB35.425 to give way before they can take aim at Jan 9, 2017 high of THB35.799. Conversely, bears look for a retreat past Jun 16 low/May 13 high of THB34.830/34.783.

  • PM Prayuth said Monday that the government has not yet cancelled the emergency decree issued during the COVID-19 pandemic amid continued concerns about the virus. Nonetheless, he suggested that restrictions will be eased further, with the government set to assess if there is a need to keep renewing the decree.
  • Reminder that the Cabinet holds its weekly meeting today.
  • Thailand's Customs Dept is expected to release May trade data in the coming days.

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