Free Trial

DOLLAR-THB : USD/THB has gained altitude and last....>

DOLLAR-THB
DOLLAR-THB : USD/THB has gained altitude and last sits at THB31.66, 14 pips
higher on the day. The risk-off impetus generated by Sino-U.S. tensions pushed
the rate to its best levels since early June. A further rally through the
100-DMA at THB31.88 would draw attention to May 25 high of THB32.00. Meanwhile,
a pullback under the 50-DMA at THB31.50 would open up Jul 13 low of THB31.25.
- Thailand is bracing for a Cabinet reshuffle, after local media reported that
four ministers are expected to submit resignations. FinMin Uttama Savanayana
said that he will quit alongside Dep PM for economic matters Somkid
Jatusripitak, Energy Min Sontirat Sontijirawong and Higher Education Min Kobsak
Pootrakool as soon as today.
- The Turakij newspaper reported that Kasikornbank President Predee Daochai
could become the new FinMin and has already accepted invitation to join the
Cabinet.
- Nothing much left on Thailand's docket this week, with an update on foreign
reserves coming up on Friday.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.