Baht strengthens a tad

The Thai currency is likely to move between 31.25 and 30.45, said Jitipol Puksamatanan, senior director of the chief investment office at SCB Securities.
On Tuesday, the financial market was pressured by tech stock speculation. The Nasdaq decreased by 1.4 per cent, while the Stoxx 600 rose by 0.9 per cent.
The price of WTI crude oil increased by 2.7 per cent amid inventors’ hopes that a Covid-19 vaccine is coming.
At the same time, the dollar weakened by 0.2 per cent, compared to other main currencies. The US Ten-Year Treasury yield increased by 1.5 basis points to 0.94 per cent, but the gold price stayed at $1,872 (Bt56,840.50) per ounce.
The baht was supported by foreign capital inflows.
Jitipol believed that in the short term, investors’ focus on cyclical stocks would benefit the baht.
He also predicted that more capital would flow into Thailand if transportation returned to its healthy normal state.