Baht weakens but investors return to stock markets

The baht is likely to move between Bt31.30 to Bt31.50, SCB Securities senior market strategist Jitipol Puksamatanan said.
The US financial market, on Monday night, grew at the highest rate in the past 10 years. The S&P 500 rose by 4.6 per cent, while the WTI crude oil price rose by 5.8 per cent, after previously dropping for six consecutive days.
This was caused by those investors that hoped the central banks worldwide would collaborate to help stimulate the present economic situation.

“Those finance ministers and central bank presidents of G7 countries will discuss on Tuesday about the present economic situation,” he added. “This would lead to the collaboration to help the economic problem in 2020.”
Meanwhile, the dollar weakened, compared to other main or Asian currencies, which were pressured by the Covid-19 situation.
“Asian currencies and the baht would be strengthened, in case the financial market has hope of the virus situation improving," he added “Foreign investors are back to purchasing Thailand’s stocks and bonds”.