US election expected to influence baht direction this week

The Thai currency on Friday is likely to move between 31.05 and 31.25 on Monday and between 31 and 31.50 this week, said Jitipol Puksamatanan, senior director of the chief investment office at SCB Securities.
The baht this week was expected to mainly move in line with the dollar and the global stock markets. If the market is in a risk-on mode after the US election, the baht and other Asian currencies would strengthen, the senior director said.
He advised investors to monitor fluctuations caused by the election on Tuesday.
Jitipol said that the US Federal Open Market Committee would hold its meeting on Wednesday and Thursday. He predicted that the unemployment figures to be announced this week would show a 7.7 per cent reduction in jobless numbers compared to the previous announcement.
The dollar index this week would tend to move between 93.7 to 94.7 points from the present 94 points, he said.