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Free AccessPrayuth Seeks To Expedite Measures To Tackle Household Debt Burden
Spot USD/THB last changes hands at THB31.163, barely changed on the day. A break above Jun 4 high/50-DMA at THB31.275/31.277 would give bulls a green light for targeting May 18 high of THB31.510. Bears need losses past Jun 11 low of THB31.030, before taking aim at the 200-DMA, which kicks in at THB30.787.
- The baht has been the worst performer in the Asia EM basket this year, losing almost 4% against the U.S. dollar thus far.
- PM Prayuth said Tuesday that relevant state agencies, including the Bank of Thailand, have been ordered to put more effort into finding ways to address the rising household debt burden. Prayuth noted that "within six months, related agencies are required to reduce the interest rate of personal loans, microfinance and nanofinance small-scale debtors, teachers and cooperatives, as well as car and motorcycle leasing businesses" (as cited by the Bangkok Post).
- As a reminder, the Bank of Thailand will provide their latest update on foreign reserves on 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.