Weakening dollar expected to help stabilise baht

The baht is expected to move between 32.25 and 32.45 to the dollar on Thursday, SCB Securities senior market strategist Jitipol Puksamatanan said.
On Thursday night, the S&P 500 rose by 1.2 per cent, led by technology stocks. Meanwhile, the US initial jobless claims increased by 3.1 million in the system.
The US Ten-Year Treasury fell to 0.64 per cent, the two-year yield decreased to 0.125 per cent, its lowest point in the past five years.
The US economy, which has not recovered, and a low interest rate have affected the commodities and financial markets. The price of WTI crude oil fell by 2.2 per cent to $23.47 per barrel, while the price of gold increased by 1.9 per cent.
The risk-on market weakened the dollar by 0.4 per cent, compared to other main currencies. The yen and the krone were the currencies that strengthened the most.
The baht on Friday was expected to move in narrow range. However, the weakened dollar would help stabilise the baht in the positive zone.