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Baht Unfazed By Reported Political Shenanigans

THB

Spot USD/THB has held a tight range and last sits -0.045 at THB32.315, with initial bearish focus falling on Aug 31 low of THB32.215. A break under that level would give bear a green light for targeting Jul 6 low of THB32.067. Conversely, a rebound above the 50-DMA at THB32.706 would encourage bulls to target Aug 26 high of THB32.835.

  • The parliamentary censure debate resumes today ahead of no-confidence votes slated for Saturday. There has been speculation about an alleged plot to unseat PM Prayuth, but the Bangkok Post reported that the Premier has fended off the threat.
  • Thailand declared 14,956 new Covid-19 cases today, the third sub-15,000 case count in a row, while also reporting 262 fatalities.
  • The Bank of Thailand's Business Sentiment Index fell to 40.0 in August from 41.4 in the previous month, printing its worst level since July 2020.
  • Looking ahead, the BoT will provide their usual weekly update on foreign reserves tomorrow.
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