Baht expected to strengthen in line with Asian currencies

The Thai currency is likely to move between 31.07 and 31.27 on Monday and between 31 to 31.50 this week, said Jitipol Puksamatanan, senior director of the chief investment office at SCB Securities.
He predicted that the dollar would be pressured this week by the recovery in Asian economies, while the support will be from the stock market and fluctuation in the US before the upcoming election.
He said that the dollar would move in a wide range until next week, while the dollar index this week would move between 93 and 94 points, from the present 93.7 points.
The senior director said that the baht would strengthen in line with other Asian currencies, supported by the recovering economy.
This week, he advised investors to monitor Chinese economic numbers, as well as the debate between the candidates for US president and developments in the US Congress about the stimulus policies.
On Monday, China's economic numbers will be announced, while the US Housing Starts and Existing Home Sales will be revealed on Tuesday and Thursday, respectively. Thai export and import numbers will be announced on Thursday as well.