Baht unchanged amid limited room for appreciation

The Thai currency is likely to move between 29.95 and 30.05, Krungthai market strategist Poon Panichpibool said.

He said the baht would at the most weaken to 30.15 and fluctuate in line with the dollar. The currency will move in a narrow range until new factors – such as a vaccination or economic recovery in Thailand become clear.

Meanwhile, Jitipol Puksamatanan – the head of the “Easy Invest” team at SCB Securities – added that foreign investors have sold their stocks in order to reduce the risk from capital markets around the world. The market this time is focused mainly on the US Ten-Year Treasury yield that has risen. Therefore, the baht and other emerging market currencies will not strengthen easily, even if the dollar weakens in the near future, compared to other main currencies.