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Baht Ticks Higher, But Remains Near Cycle Lows

THB

Spot USD/THB has struggled to correct its recent advance to any significant degree, despite broader greenback weakness. The rate operates -0.037 at THB36.570, near cyclical highs printed last Friday.

  • An upsurge through aforesaid cyclical high of THB36.735 would draw bullish attention to the THB37.000 figure. Bears would be pleased by losses towards Jul 11 low of THB35.882, a break here would give them some reprieve.
  • PM Prayuth chairs a regular Cabinet meeting today, with government spokesperson provide an update on any new decisions at 14:00 ICT/08:00 BST.
  • Customs trade data will hit the wires on Friday alongside the usual weekly update on BoT foreign reserves.

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