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BoT Rate Decision On Tap

THB

Spot USD/THB re-opened a tad softer as participants prepare for the BoT's rate decision due later today. The pair last changes hands -0.018 at THB34.452.

  • From a technical standpoint, gains above May 18 high of THB34.682 are needed to expose May 13 cycle high of THB34.783. Bears look for a retreat towards the THB34.048/34.018/34.000 support area formed by May 30 low/May 5 low/round figure.
  • The Bank of Thailand is expected to keep its policy rate unchanged at 0.50% today despite accelerating inflation, as it considers price pressures to be driven by supply-side factors and sees the need to continue supporting economic recovery. Click here to see our preview.
  • Bangkok Governor's push to extend nightlife hours in the capital until 2am and ditch the outdoor mask mandate has won the backing of tourism operators. Elsewhere, local headline flow was light over the last 24h.

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