Baht could fluctuate, weaken further: market strategist

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40015474


The baht opened at 34.68 to the US dollar on Thursday, dropping from Wednesday’s close of 34.61.

Baht could fluctuate, weaken further: market strategist

The currency is expected to move in a range between 34.60 and 34.80 on Thursday, said Krungthai Bank market strategist Poon Panichpibool.

Poon said the baht could fluctuate and weaken to test the key resistance level of 34.75 as the dollar strengthens and the Asian currency market finds itself in a risk-off state as investors are worried the US Federal Reserve would increase the interest rate.

However, foreign investment has not flowed out of Thailand in significant amounts so the baht will not weaken much, he believed.

As the US 10-year bond yield heads down, it might affect sales of long term bonds in Thailand, which would see a decrease, Poon said.

He recommended keeping a close watch on whether foreign investors would return to buy up Thai stocks as these are plunging.

Poon advised businesses to use hedging tools such as options to manage risks in the highly volatile currency market.

Published : May 12, 2022

By : THE NATION

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