Baht Rallies To Two-Month High, Officials Discuss "Test & Go" Resumption

Spot USD/THB has dipped to its worst levels in two months as U.S. Tsy yields have faltered. The rate last operates -0.120 at THB32.905, with bears looking for a break under the 200-DMA/Nov 18 low at THB32.576/32.565. On the topside, focus falls on Jan 10 high of THB33.747, followed by Dec 22 high of THB33.835.

• PM Prayuth expressed a sense of concern with Covid-19 clusters in bars and pubs which do not adhere to safety standards. The Premier chairs a meeting of the national Covid-19 panel to review virus countermeasures and consider the resumption of the Test & Go scheme, which allows vaccinated travellers to enter Thailand without quarantine requirement.
• A senior member of the Covid-19 task force clarified that the Test & Go programme will be reinstated soon, but rules will be tightened to allow better monitoring of foreign visitors' health in the first week after entry. It has been suggested that arrivals will have to take two PCR tests during their first seven days in the country.
• The government has added chicken meat to the price control list, as officials are trying contain rising food prices.
• Reminder that the Customs Department will publish December trade data tomorrow.