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Slightly Softer

THB

Spot USD/THB is narrowing in on its 50-DMA and trades +0.070 at THB32.705 after a firmer reopen. A breach of that moving average, currently intersecting at THB32.772, would give bulls a green light for taking aim at Aug 26 high of THB32.835. Initial downside focus falls on Sep 6 low of THB32.333 and a break here would bring Aug 31 low of THB32.215 into play.

  • A source from the ruling PPRP told the Bangkok Post that the party's SecGen Thamanat will keep his post, PM Prayuth "might not trust him as much as he used to," following accusations that Thamanat was behind a plot to oust Prayuth.
  • Participants look ahead to the release of the University of the Thai Chamber of Commerce's consumer confidence gauge, which plunged to a record low in July. The next update will be published on Thursday.

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