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Baht Prints Multi-Month Highs

THB

Spot USD/THB has extended losses this morning, after piercing support from Aug 31 low of THB32.215 on Thursday, and last changes hands -0.065 at THB32.110.

  • A further sell-off past the THB32.000 figure would allow bears to set their sights on Jun 25 low of THB31.740. Conversely, a jump above Feb 11 high of THB32.783 would expose Jan 20 low of THB32.822.
  • Thailand's daily Covid-19 cases rose to the highest level since Aug 27, as the nation declared 18,066 new infections. Dep PM Anutin said that Thailand will try to strike a balance between keeping the economy open and safeguarding public health.
  • Looking ahead, focus moves to GDP (Monday) & customs trade data (Wednesday).

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