Officials Debate Covid-19 Strategy

Spot USD/THB extended its rally on Tuesday, approaching key resistance from Aug 10 high/round figure of THB33.490/33.500. The rate sits at THB33.390, virtually unchanged on the day, with bulls looking for another swing towards this layer of resistance. A clean break would open up Jul 20, 2018 high of THB33.518. On the flip side, a dip through the 50-DMA at THB32.944 would expose Sep 15 low of THB32.850.

• BBG reported that Thailand's Covid-19 task force will discuss wider relaxation of virus countermeasures on Monday (Sep 27). The panel will debate the reopening of more regions to vaccinated international visitors and lifting restrictions on more businesses.
• Elsewhere, the Cabinet approved a draft amendment to the 2015 Communicable Disease Act, while a gov't source told the Bangkok Post that "the government is unlikely to begin enforcing the amended Communicable Disease Act by the end of this month as expected as it still needs to seek parliamentary approval first". The amended law will replace emergency decrees used to contain the outbreak of Covid-19.
• Meanwhile, the nation's daily Covid-19 case count rose for the first time in five days today. Officials reported 11,252 new infections, with 141 deaths.
• Thailand's Customs Department will release monthly trade data tomorrow, with BoT's next update on foreign reserves coming up on Friday.