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Baht Weakens Ahead Of BoT/MoF Currency Talks

THB

Spot USD/THB shot to new cyclical highs after the Fed's monetary policy decision and last trades +0.210 at THB37.355, which has bulls looking for further gains past Sep 19, 2006 high of THB37.951. Bears eye the 50-DMA at THB36.311 for initial support.

  • Foreign investors sold a net $27.0mn in local equities Wednesday. The SET index traded on a heavier footing, losing ~0.3% come the end of play.
  • Reminder that FinMin & BoT officials will discuss recent baht depreciation after acting PM Prawit asked officials to look into the matter.
  • Thailand's 11-month revenue collections of THB2.26tn exceeded the target by THB118bn, indicating a recovery in domestic consumption and economic activities.

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