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Baht Operates Near Cycle Lows, Liquidity May Be Thinned

THB

Spot USD/THB trades -0.025 at THB36.283, with bears looking for losses past Jul 11 low of THB35.882 and towards Jun 29 low/50-DMA at THB34.960/34.923. Bulls need a break above yesterday's high of THB36.368 before taking aim at Jan 18, 2016 high of THB36.382.

  • Even though local financial markets are open today, government offices are shut in observance of national holidays (beginning of Buddhist lent) and many Thai people are off, which may limit baht liquidity.
  • The Federation of Thai Industries (FTI) is downbeat on the outlook for consumption and investment in the second half of the year, with rising inflation and persistent COVID-19 worry looming large.

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