Baht to move in a narrow range amid lack of foreign investment

The Thai currency is expected to move at between 31.75 and 32.95, SCB Securities senior market strategist Jitipol Puksamatanan said.
On Thursday night, financial markets around the world moved in a narrow range. The S&P 500 fell by 0.78 per cent, while Euro Stoxx 50 closed at 0.08 per cent in positive zone. Also, Brent crude oil increased to $36 per barrel.
The market was reacting to negative sentiment, such as a conflict between the US and China, and the US initial jobless claims this week which rose by 2.44 positions, although 50 states have reopened their economies.
The dollar strengthened by 0.02 per cent, compared to other major currencies, while the price of gold increased. The market would be ready for risk again next week and would support the recovery of Asian currencies, the analyst said.
The strategist forecast that the baht would move in a narrow range due to a lack of foreign investments.