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Free AccessOffshore Impetus Undermines Baht
Last week's losing streak of USD/THB has drawn to an end, with the pair catching up with greenback purchases from after onshore Thai markets closed on Friday. The rate operates +0.015 at THB33.235, with local headline flow relatively subdued.
- Bulls look for break out of a descending channel drawn off Dec 3 peak. A break above channel top at THB33.692 would allow them to take aim at Dec 22 high of THB33.835. Conversely, bears look for a slide through channel floor at THB33.072 before setting their sights on the round figure of THB33.000.
- Participants look ahead to the release of trade data from Thailand's Customs Department this Friday.
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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.