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USD/THB Softens At Reopen, Holds Below 200-DMA

THB

Spot USD/THB re-opened slightly lower and has held the bulk of initial losses. The pair last sits at THB30.720, with bears looking for a dip through Mar 12 low of THB30.513. A break here would open up the 100-DMA at THB30.308. On the flip side, gains past Mar 12 high of THB30.788 would expose THB30.829, which represents the 200-DMA.

  • Thailand's resort island of Koh Samui is planning to reopen to vaccinated foreign tourists and allow them to enter without having to quarantine upon arrival from Oct 1.
  • Thailand's Office of Insurance Commission ok'd a maximum coverage of up to THB1mn for those who suffer from side-effects of Covid-19 vaccines.
  • Thai Senate is set to debate scrapping the current charter amendment plan, following the Constitutional Court's ruling.
  • There is little of note on Thailand's economic docket this week, with the usual weekly update on foreign reserves coming up on Friday.

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