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BoT Set To Deliver MonPol Decision

THB

Spot USD/THB has edged higher and last operates at THB30.01, back on the THB30.00 handle. The Bank of Thailand delivers its MonPol decision today (see earlier bullets for our preview).

  • The majority of analysts expect the MPC to leave interest rates unchanged today, with 25/27 economists surveyed by BBG expecting no change to the benchmark rate.
  • Implied 1-month USD/THB volatility consolidates near worst levels since Jan 2020; 1-year tenor stabilises just above half-year lows.
  • A move in the spot through the 50-DMA at THB30.08 would send a bullish signal, opening up Jan 18 high of MYR30.13. On the flip side, a dip through Feb 1 low of THB29.89 would bring Jan 4 & 5 lows of THB29.84 into play.
  • Looking at the data docket, the BoT's consumer confidence gauge comes out tomorrow, with monthly CPI report due Friday.

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