Baht unchanged

The baht opened at 32.47 to the US dollar this morning (April 28), unchanged from Monday’s close.
The baht is expected to move between 32.40 and 32.60 per US dollar today, said SCB Securities senior market strategist Jitipol Puksamatanan.
On Monday night, the financial market was in a risk on state after the Covid-19 crisis became less worrisome. The VIX index decreased 33 per cent, the lowest point in six weeks.
The S&P 500 increased by 1.4 per cent, while the Euro Stoxx 50 was up 2.6 per cent. In addition, the US ten-year Treasury bond yield grew by 5.8 basis points to 0.65 per cent, and German bond yields fell to minus 0.45 per cent.
The dollar weakened by 0.5 per cent, compared to other main currencies, Jitipol said.
In Thailand, the baht was supported by other Asian currencies and the financial market, but experienced a resistance of dividend payment.
However, the baht is expected to strengthen in the next phase, since financial policies by Western governments are being relaxed for investment, Jitipol added.