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Baht Remains Weak

THB

Spot USD/THB trades +0.108 at THB34.645 and a continued upswing above May 11, 2017 high of THB34.815 would lend further support to the bullish case. Bears need a retreat under May 5 low/round figure of THB34.018/34.000 to find some poise.

  • PM Prayuth announced Tuesday that the government intends to extend the excise-tax reduction on diesel to ease the burden on consumers. The current reduction expires on May 20 and specific proposals will be discussed at the Cabinet meeting next week.
  • The Premier has departed for the ASEAN-U.S. Special Summit, which will take place on Thursday and Friday.

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