Baht unchanged

The Thai currency is likely to move between 31.05 and 31.25 today, said Jitipol Puksamatanan, head of markets strategy at SCB Securities.
Yesterday, investors decided to sell their risk assets after the US Federal Open Market Committee said another dose of government stimulus was likely needed. This led to a decrease in the S&P 500 by 0.46 per cent. However, the Stoxx 600 closed in positive territory, by 0.59 per cent.
The US Ten-Year Treasury yield increased to 0.69 per cent, despite predictions that the policy interest rate would continue to stay low.
In financial markets, the dollar weakened by 0.1 per cent, while the yen reached 105 per US dollar.
Jitipol advised investors to monitor both Bank of Japan and Bank of England meetings today.
In Thailand, the baht has strengthened in line with other currencies.
SCB Securities said this strengthening was more continual than before, after news that a Covid-19 vaccine was being successfully developed and US financial policy was expected to be more relaxed.
This situation helped the baht and other currencies in emerging markets to strengthen despite facing big-risk market factors, including the US presidential election.