DOLLAR-THB : Resistance from Monday's best levels....>

DOLLAR-THB : Resistance from Monday's best levels gave way and USD/THB has

rallied to fresh 9-month highs. Broader coronavirus worry has underpinned the

move, even as general risk aversion has moderated through the session. A better

than expected reading of Thailand's Jan m'fing production index has been

shrugged by the baht. The index rose by 4.59% Y/Y vs. exp. of a 4.20% decline. 

- Thailand's Tourism Ministry earlier published some data for the sector, noting

a 2.5% Y/Y increase in foreign tourist arrivals this month despite a drop in

Chinese visitors. However, receipts shrank 3.6% Y/Y to THB188.8bn with Chinese

tourists spending 10% less.

- Thai Health Minister Anutin said in a Facebook post that the country is

mulling additional virus containment measures.

- USD/THB last seen at THB31.83, 12 pips better off. A clearance of the May 22

peak at THB32.03 would put the Apr 25 high of THB32.11 firmly in focus. On the

flip side, bears initially need a fall below yesterday's trough at THB31.56.