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Baht Rangebound, Set To Finish Week As Best Performer In Asia

THB

Spot USD/THB trades +0.027 at THB32.607 as we type. Bulls look to a move through Nov 11 high/100-DMA at THB32.967/32.998, while bears look for a fall through Sep 6 low of THB32.333 towards Aug 31 low of THB32.215.

  • The baht has comfortably outperformed all of its peers from the Asia EM basket this week. It has been on of only two regional currencies to beat the greenback, alongside the Indian rupee.
  • PM Prayuth was optimistic after a meeting with businessmen from the American Chamber of Commerce in Thailand and welcomed their pledges to continue investing in the country.
  • Looking into next week's data docket, Thailand's Customs Department will publish trade report on Tuesday.

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