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DOLLAR-THB : USD/THB has shed 5 pips thus far and....>

DOLLAR-THB
DOLLAR-THB : USD/THB has shed 5 pips thus far and last sits at THB31.19. The
rate re-opened on the back foot, after yesterday's USD sell-off, but has trimmed
losses since. As it continues to operate below yesterday's worst levels, bears
look for a dip through the nearby 200-DMA at THB31.13, which would open up Jul 7
low of THB31.02. Conversely, bulls need a jump above yesterday's high of
THB31.31 to gain some momentum and bring the 50-DMA at THB31.59 into play.
- On Wednesday, Thai Cabinet approved THB92.4bn worth of projects to revive the
economy. Of the THB92.4bn spending approved in principle,five projects worth
THB15.5bn in total were approved in detail.
- Elsewhere, U.S. Army Chief of Staff is in Thailand to sign off on an agreement
on joint training.
- In case you missed it, the minutes from the BoT's Jun monetary policy meeting
revealed that policymakers closely monitored the FX market and the impact of
previous measures on THB.

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