Short-term appreciation of the baht likely

The Thai currency is likely to move between 31.23 and 31.43 on Monday and between 31 to 31.50 this week, said Jitipol Puksamatanan, head of markets strategy at SCB Securities.
The strategist said that the baht would have no worrying issues in the short term, and could strengthen in line with other Asian currencies.
During this week, he predicted that the currency would move in a narrow range, despite pressure from political issues and coronavirus in the country.
In the next phase, a recovery in export, as well as a change in oil price, would enable the baht to strengthen, he added.
This week, the Federal Open Market Committee will hold its meeting on Wednesday, while the Bank of Japan and Bank of England’s meetings will be held on Thursday.
The strategist also forecast that the dollar this week would move in a narrow range, due to the market not being open completely for risk. The dollar index was predicted to move between 92.5 to 93.8 points from the present 93.3 points.
He advised investors to monitor the yen and pound, as they could weaken and this at the same time would strengthen the dollar.