Baht weakens slightly, 'not likely to strengthen much in short term'

The Thai currency is expected to move between 31.08 and 31.28, said Jitipol Puksamatanan, head of Markets Strategy at SCB Securities.
Yesterday, the S&P 500 increased by 0.2 per cent, while the Stoxx Europe 600 decreased by 0.5 per cent.
Investors are keenly watching stock markets and US economic stimulus policies, Jitipol said.
Meanwhile, a weakening dollar and the low-rate bond yield were two issues that have affected trade around the world, he said.
Jitipol mentioned that the dollar weakened by 0.5 per cent, its lowest point since May 2018. The US Ten-Year Treasury yield fell by 2 basis points, to 0.66 per cent, boosting the gold price, which has gone beyond $2,000 (Bt62,220) per ounce.
He also said the baht in the short term would not strengthen, reflecting the weakening dollar and investor concern about a Thai economic recovery.
However, Jitipol predicted the US bond yield would decrease again, and the baht would strengthen from future market factors.