USD/THB risks a deeper decline near term – UOB – by pabspiovano Thailand Currencies Crosses Banks
“Last Monday , we highlighted that ‘35.39 could be a short-term’ and we held the view ‘the pullback from the high has scope to extend but any decline is viewed as a lower trading range of 34.30/34.90’. However, USD/THB traded between 34.39 and 35.19 before closing at 34.83 .”on a soft note and the underlying tone appears soft and we see room for USD/THB to edge below 34.30. The next support level at 34.00 is unlikely to come under threat. On the upside, a breach of 35.
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