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USD/THB Slips To Two-Week Low, Bangkok Mulls Relaxing Restrictions

THB

Spot USD/THB has softened and last deals at THB29.93, 5 pips worse off on the day, testing a two-week low. Losses past Jan 4 & 5 lows of THB29.84 would open up Dec 18, 2020 low of THB29.76. Conversely, a break above Jan 18 high/50-DMA at THB30.13/14 would shift focus to Jan 12 high of THB30.19.

  • Bangkok Metropolitan Authority meets today to consider reopening some businesses, while the Chiang Mai province announced yesterday that it was lifting a ban on serving alcohol in restaurants.
  • Thai FinMin said that the government must prepare to look after the economy, while the Ministry expects GDP to grow 4-5% in 2021 and sees a 6% contraction in 2020.
  • Elsewhere, Thai Commerce Ministry's international trade department said that it expects U.S. Pres Biden's policies to help bolster trade and investment cooperation between the U.S. and Thailand.
  • Thai Customs Office will release its trade report later today.

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