Baht unchanged in opening trade #SootinClaimon.Com

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Baht unchanged in opening trade (nationthailand.com)

Baht unchanged in opening trade

NationalDec 02. 2020

By THE NATION

The baht opened at 30.25 to the US dollar on Wednesday, unchanged from its closing rate on Tuesday.The Thai currency is likely to move between 30.15 and 30.35, said Jitipol Puksamatanan, senior director of the chief investment office at SCB Securities.On Tuesday night, the S&P 500 increased to 3,662 points amid a “risk on” market state.Jitipol explained that the index was supported by tech stocks, a weakened dollar and investors who believed the US government would come out with a fresh stimulus package at the end of the year.The US Ten-Year Treasury yield rose by 8.7 basis points to 0.93 per cent while the dollar weakened by 0.7 per cent and the euro strengthened to 1.2 per dollar, the first time since April 2018.The market situation boosted the gold price by 2.1 per cent to $1,800 (Bt54,450).In Thailand, the baht moved in a narrow range as investors were cautious after the Bank of Thailand issued measures to control the exchange rate. Also, foreign investors sold Thai bonds they were holding.Jitipol mentioned that the baht and other Asian currencies would continue to strengthen if the capital market experienced no obstructions.

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