Baht fluctuates amid speculation by foreign investors

The Thai currency is expected to move between 31.05 and 31.25, said Jitipol Puksamatanan, head of Markets Strategy at SCB Securities.
The US stock market on Wednesday night fell by 0.4 per cent, after it had increased for three consecutive days, while Euro Stoxx 600 recovered by 0.7 per cent, after Jens Weidmann, the Deutsche Bundesbank president, revealed European Central Bank policies to purchase risk assets.
His statement lifted the German Ten-Year Treasury to -0.39 per cent, and the US Treasury dropped by 0.72 per cent.
The strategist said that the central banks of Taiwan and Indonesia were expected to reduce their interest policy rate from 1.0 per cent and 4.25 per cent, respectively. Moreover, the Bank of England would increase its asset buying by 100 billion pounds, and keep the interest rate at 0.1 per cent.
In the financial market, the dollar fell by 0.3 per cent, compared to other main currencies, while the yen and franc were strengthened as safe haven assets.
The baht has been fluctuating more, due to speculation by foreign investors and selling by importers. However, the strategist said that the baht could trade at a more weakened rate like before the coronavirus spread.