Baht unchanged
The baht opened at 32.06 to the US dollar this morning (May 18), unchanged from Friday’s close.
The Thai currency is expected to move between 31.95 and 32.15 today and 31.85 to 32.35 this week, SCB Securities senior market strategist Jitipol Puksamatanan said.
He advised investors to monitor the conflict between the US and China, which would “not end easily”. The dollar would continue strengthening from this conflict, he said.
Big importers and exporters have been trading in baht, he said, expecting the currency this week to be traded in a narrow range.
The strategist said the baht would strengthen to 32 per US dollar or lower if the monetary policy committee does not lower the interest rate as the market expects.
Thailand is set to announce its gross domestic product results today and its interest rate policy on Wednesday. Also on this day, the People’s Bank of China is expected to announce its loan prime rate.
