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Baht On Firmer Footing

THB

Spot USD/THB operates -0.092 at THB32.938, with bears looking for a sell-off past Feb 7/Jan 20 lows of THB32.842/32.822 towards the 200-DMA at THB32.698. Conversely, a bounce above Jan 31 high of THB33.467 would bring Jan 10 high of THB33.747 into play.

  • Recall that Thailand is planning to discuss creating travel bubbles with China and Malaysia in a bid to revive domestic tourism industry.
  • The Bangkok Post reported that the government is looking for sources of funding to finance energy subsidies. Meanwhile, Thai truckers are staging a rally today to demand the ouster of Energy Min Supattanapong.
  • PM Prayuth chairs the weekly Cabinet meeting today. Elsewhere, the Monetary Policy Committee of the Bank of Thailand meets Wednesday, but it is unlikely that it will tweak current policy settings.

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