Baht weakens slightly
The Thai currency is likely to move between 31.13 and 31.33 today, said Jitipol Puksamatanan, head of markets strategy at SCB Securities.
Yesterday, amid a “risk on” state, the S&P 500 rose by 0.5 per cent and Stoxx 600 by 0.6 per cent.
Meanwhile, bond yields around the world saw no change, and would move again after results of the Federal Open Market Committee meeting on Thursday, he said.
In financial markets, most investors traded in main currencies as the dollar weakened by 0.3 per cent. The yen weakened to 105.50 per dollar.
In Asia, the baht and other Asian currencies tended to recover, after the yuan strengthened without Bank of China resistance, Jitipol said.
He also noted that the World Trade Organisation ruled that certain US taxes on Chinese products were a violation of international rules. This reduced pressure of an intensified trade war between the two countries, and was a positive sign for all Asian currencies.