Krungthai Bank market strategist Poon Panichpibool said the baht is volatile and likely to move sideways despite the government easing prevention measures and reopening the country under the Test & Go scheme. The baht is also supported by the selling of gold.
However, the market is in a risk-off state causing the dollar to strengthen, while foreign investors are expected to continue selling Thai stocks.
The key support level for the baht would be from 32.80 to 32.90 – a level that importers are waiting for so they can buy dollars. Meanwhile, the baht’s key resistance level would be from 33.10 to 33.30 – a level eyed by exporters so they can offload their dollars, he added.
Published : January 21, 2022
By : THE NATION