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DOLLAR-THB : USD/THB pulled back from its recent.....>

DOLLAR-THB
DOLLAR-THB : USD/THB pulled back from its recent multi-month highs yesterday, as
China took policy measures to soothe markets rattled by the coronavirus
situation. The rate last deals at THB30.95, 3 pips higher on the day.
- Per the most recent updates, Thailand has confirmed 25 cases of coronavirus in
total, with one person being severely ill. The Southeast Asian country has the
highest number of cases of novel virus outside of China.
- Bears are on alert as the rate threatens to break below the 23.6% retracement
of the Dec 30 - Jan 30 rally at THB30.97. Such a move would expose the 200-DMA,
intercepting at THB30.77. Meanwhile, bulls need to reclaim the THB31.00 level
before targeting the Jan 30 peak at THB31.28.
- The local CPI & foreign reserves figures are due on Thursday & Friday
respectively. The BoT will deliver their monetary policy decision later today,
with analysts split as to whether policymakers will reduce borrowing costs.

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