Baht moves in stable range to the US dollar
The baht was stable in morning trading on Thursday (January 16), moving in a narrow range of Bt30.26 and Bt30.31 to the US dollar, near Wednesday’s closing rate of Bt30.26, Kangana Chockpisansin, Kasikorn Research Centre’s head of research, revealed.
She said that Thailand’s currency moved closer to Bt30.25 to the dollar after the market opened on Thursday morning.
The movement was connected to new factors related to the signing of a memorandum of understanding between the US and China.
The MoU was about the first phase of their trade deal. There is, however, uncertainty about the next phase.
Kangana estimated that the baht on Thursday will move towards Bt30.10 to Bt30.40 to the dollar. “The important US economic numbers were the country’s retail sales in December, and the business tendency survey of January of the Fed’s branch of Philadelphia,” she added.
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