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Thailand Begins Mass Vaccination Campaign

THB

Spot USD/THB has played catch-up with the greenback's post-NFP rout seen after Thai markets closed on Friday. The rate trades -0.110 at THB31.165 as trading got underway in Bangkok.

  • Thailand's nationwide Covid-19 vaccine rollout kicks off today. Meanwhile, Thai businesses have voiced concern over restrictions, which are part of the plan to reopen Phuket to foreign visitors next month. Under current regulations, tourists will have to remain on the island for 14 days after arrival.
  • Looking ahead, the University of the Thai Chamber of Commerce will publish their consumer confidence gauge on Thursday. The next day, the BoT will release their weekly update on foreign reserves.
  • Bears would be pleased by a slide through Jun 2 low of THB31.130, towards May 10 low of THB31.048, a key near-term support. Bullish focus falls on Jun 4 high of THB31.275 and a clearance of that level would open up May 18/Apr 12 highs of THB31.510/31.575.

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