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Free AccessBaht Remains Under Pressure, Thai Cabinet Meeting Takes Focus
The rally in spot USD/THB continues, with the pair showing at fresh three-year highs. It last sits +0.055 at THB33.475 and bulls look for a clean break above Jul 20, 2018 high of THB33.518, which provides a key layer of resistance. Bears look for a pullback under Jul 29/20 lows of THB32.820/32.780.
- Thailand declared 19,843 new Covid-19 cases today, while also adding a record 235 deaths.
- The Thai Cabinet meets today and is expected to discuss additional economic relief measures for people affected by the outbreak of Covid-19.
- There is little of note on the local docket for the remainder of this week, with the BoT due to release their weekly update on foreign reserves on Friday.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.