Spot USD/THB resumes gains, hitting fresh cyclical highs this morning. The pair last deals +0.110 at THB36.773, with next firm resistance seen at Sep 19, 2006 high of THB37.951. Bears look for a pullback under THB35.882, which limited losses on Jul 11.
- Analysts are divided over the most probable outcome of today's Bank Indonesia meeting, but most expect a stand-pat decision. The rest forecast a 25bp rate hike, which would leave the Bank of Thailand as the last dovish holdout in emerging Asia.
- Political jitters may be adding pressure to the baht as Thai parliament resumes the no-confidence debate against PM Prayuth and 10 other ministers. Lawmakers will vote on the motion this Saturday.
- Thailand's main COVID-19 panel will hold a briefing today to provide an update on the current situation.
- As a reminder, Thailand's customs trade data will be released on Friday.