Baht down in morning session, but limited room for further weakening
The baht opened at 30.41 to the US dollar on Friday, weakening from Thursday’s close of 30.35.
The Thai currency is likely to move between 30.35 and 30.50, Krungthai Bank market strategist Poon Panichpibool said on Wednesday.
He said that the baht tends to fluctuate in a wide range in the short term. This fluctuation will be reduced, depending on the dollar movement and the selling of emerging market assets.
However, he predicted that the baht would touch a maximum of 30.50 to the US dollar. In case the currency weakens to 30.70 or 30.80, it also has a tendency to rebound, the market strategist added.
