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USD/THB Edges Lower On Broader Dollar Weakness

THB

Spot USD/THB has ebbed lower and last operates at THB30.08, 9 pips worse off. Broad-based dollar weakness and positive risk appetite have aided the move.

  • Bears need losses past Dec 24 low of THB29.99 before setting their sights on Dec 18 cycle low of THB29.76. On the topside, focus falls on Dec 24 high/23.6% retracement of the Jul 20 - Dec 18 slide at THB30.24/25, followed by Nov 24 high of THB30.43.
  • Just a quick heads-up, in case any comments trickle through: PM Prayuth chairs a cabinet meeting today, Dep PM Supattanapong chairs a PPP policy meeting.
  • Thailand reports BoP current account balance & trade figures tomorrow.

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