Baht unchanged

The Thai currency is expected to move between 30.93 and 31.13 today and between 30.80 and 31.30 this week, said Jitipol Puksamatanan, head of Markets Strategy at SCB Securities.
He said the baht would be pressured to move in a narrow range due to the present economic situation and the results of the Thai central bank's monetary policy committee meeting.
Though the dollar has been seen moving in line with the capital market situation, investors would concentrate on Europe and Asia in the middle term because of the political situation and the Covid-19 crisis in the United States, Jitipol said, adding that the baht in the second half of the year would strengthen under this assumption.
He predicted the MPC would freeze the interest rate at 0.50 per cent and will not reduce the rate again this year if the Thai economy recovers in the second half.
US durable goods orders in late May are soon to be announced and is estimated to have increased by 10 per cent, compared to orders in April.
Also, the University of Michigan Consumer Sentiment Index will be announced this Friday (June 26). The index is expected to increase from 78.9 points to 79.2 points from a recovering US economy, Jitipol added.