Baht could touch 36.30 during the day: market strategist

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

The baht opened at 36.26 to the US dollar on Thursday, strengthening from Wednesday’s close of 36.28.

Baht could touch 36.30 during the day: market strategist

The currency is expected to move between 36.10 and 36.30 during the day, Krungthai Bank market strategist Poon Panichpibool predicted.

Poon said the currency market is in a risk-on state and might provide the dollar with support to strengthen, especially if foreign investors go for mass purchases of Thai stocks again once the tension between China and the US eases over Taiwan.

However, he suggested investors beware of currency market volatility that might increase after a key Bank of England meeting.

If the BOE shows concern about a shrinking or regressing economy at the end of the year, it might pressure the pound sterling to weaken and in turn support the dollar, which could strengthen.

Poon also advised investors to use hedging tools such as options to manage risks in a highly volatile currency market.

Published : August 04, 2022


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s