Baht to move in tight range next week

SUNDAY, MAY 19, 2013
Baht to move in tight range next week

The Thai baht next week is expected to move in the range of 29.50-85 per US dollar, according to Kasikorn Research Centre.

 

Factors to watch include progress on the US debt ceiling, possible foreign exchange measures in Thailand, and Thailand's economic indicators in the first quarter.
Global markets are all eyes on the US Federal Reserve chairman's testimony to the Congress on May 22.
Last week, the Thai baht ended slightly above 30 per dollar, sharply weakening from 28.58 in April - the strongest level since 1997 devaluation.