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THB: Baht On Back Foot, MoF-BoT Meeting Draws Attention

THB
GlobalEM BulletBulletAPACEmerging Market NewsRegionThailand

Spot USD/THB holds onto its earlier gains, trading +0.325 at 33.088. The rate has been ticking higher for the past three sessions after printing new cycle lows at 23.145 on Monday. Bulls look for gains towards the 34.0 figure and the 50-DMA at 34.159.

  • Bloomberg runs comments from Finance Minister Pichai Chunhavajira, who says that the Bank of Thailand will discuss a key rate cut proposal, which would help ease the burden on borrowers amid high levels of household debt. The official is also quoted as saying that the BoT and Finance Ministry will hold further talks later this month.
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Spot USD/THB holds onto its earlier gains, trading +0.325 at 33.088. The rate has been ticking higher for the past three sessions after printing new cycle lows at 23.145 on Monday. Bulls look for gains towards the 34.0 figure and the 50-DMA at 34.159.

  • Bloomberg runs comments from Finance Minister Pichai Chunhavajira, who says that the Bank of Thailand will discuss a key rate cut proposal, which would help ease the burden on borrowers amid high levels of household debt. The official is also quoted as saying that the BoT and Finance Ministry will hold further talks later this month.