The Thai currency is likely to move between 30.70 and 31.20 this week and 30.75 and 30.90 on Monday, Krungthai Bank market strategist Poon Panichpibool said.
He said the baht tends to fluctuate in line with the dollar. Meanwhile, the dollar is moving in tandem with the US Ten-Year Treasury yield, which has grown from the US recovery.
The relation between the yield and the currency pressured emerging market currencies, such as the baht, to weaken, the market strategist explained.
He advised investors to monitor foreign funds in the short term, especially in stocks, as they could flow out.
Poon predicted that exporters would sell dollars when the baht moves between 30.90 and 31 per US dollar. Also, the baht would weaken to 31.25 in case it reached 31.
Published : March 22, 2021
By : THE NATION