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DOLLAR-THB : USD/THB have added 4 pips and last......>

DOLLAR-THB
DOLLAR-THB : USD/THB have added 4 pips and last trades at THB31.86, after
yesterday's monetary policy decision from the BoT. Policymakers decided to cut
the benchmark interest rate by 25bp to 0.5%, in line with expectations, in a 4-3
vote. The central bank currently expects a 5.3% Y/Y contraction in domestic GDP
this year, but warned that the hit from the coronavirus outbreak may ultimately
be greater. Re: THB, the BoT said that the baht's recent strength is worrying
and may hinder effective economic recovery.
- A fall through channel floor at THB31.72 would clear the way to Mar 12
high/100-DMA at THB31.66/62. Bulls look for a rally above May 14 high/channel
top of THB32.12/14, which would expose the 50-DMA at THB32.39.
- Thailand's trade data & foreign reserves will be released tomorrow.

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