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THB Eyes Briefing With BoT Gov

DOLLAR-THB

USD/THB has meandered and last trades just 1 tick shy of neutral levels, at THB31.42, as a briefing with BoT Gov Veerathai on debt restructuring business project kicks off (it was scheduled for 10:00am local time, per BBG).

  • Social unrest in Thailand continue to garner attention, with at least nine protest leaders arrested since Wednesday.
  • Bulls look for a break above Jul 29 high of THB31.58 before targeting the 100-DMA at THB31.77. Conversely, a fall through Aug 13 low of THB31.03 would open up Aug 5 low of THB30.98. As a reminder, the rate has recently completed a "death cross" formation.
  • Thailand will release its weekly update on foreign reserves today.
  • Next week, focus turns to Monday's customs trade data.

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