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Baht Loses Ground, With Thailand's Energy Policy Committee To Meet

THB

Spot USD/THB bounced in early trade, driven by overnight risk-off impetus. The rate changes hands +0.270 at THB34.340 as we type. Topside focus falls on THB34.522, which capped gains on May 3. A breach of this level would clear the way to May 11, 2017 high of THB34.815. On the downside, eyes are on yesterday's low/round figure of THB34.018/34.000.

  • Dep PM Anutin said that the government will ask the national Covid-19 task force to consider scrapping the Thailand Pass registration requirement for returning Thais and, in the future, foreign travellers.
  • PM Prayuth chairs national energy policy committee's meeting today. Officials may discuss the diesel subsidy lifted this month due to the growing burden on the national budget. Prayuth will also take part in a meeting of Thailand's economic officials to debate issues related to the outbreak of Covid-19.
  • The University of the Thai Chamber of Commerce will publish consumer confidence data on Tuesday.

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