- July 21, 2022
- Posted by: admin
- Category: Daily News
- The currency is expected to move between THB36.50 and THB36.70 during the day, predicted Krungthai Bank market strategist Poon Panichpibool.
- Poon said the dollar might remain stable or even weaken if the market jumps into a risk-on state.
- He believes the baht will not weaken past its resistance level of THB36.70-THB36.80 if foreign investors purchase risky Thai assets again.
- However, the baht could fluctuate and fail to strengthen because the market is ready to slide back into a risk-off state due to concerns over economic slowdown and worse-than-expected performance by listed companies, Poon said.
- Also, investors believe the US Federal Reserve may push the interest rate up by a fair bit, he said.
- Moreover, the energy crisis in Europe is a concerning factor in the short term.
- Poon advised close monitoring of this situation because the euro might weaken further and cause the dollar to strengthen if Russia halts or decreases the amount of energy sent to Europe.
- He also advised investors to use hedging tools such as options to manage risks in a highly volatile currency market.
External Link : https://www.nationthailand.com/business/40017935