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- USD/THB seen trading between 35.27 and 35.60 – UOB
USD/THB seen trading between 35.27 and 35.60 – UOB
Quek Ser Leang at UOB Group’s Global Economics & Markets Research suggests USD/THB faces further consolidation in the near term.
Key Quotes
“We highlighted last Monday (20 Jun, spot at 35.25) that USD/THB ‘could rise above 35.40 but the next resistance at 35.70 is unlikely to come under threat’. Our view was not wrong as USD rose to a high of 35.58 on Friday.”
“Shorter-term upward momentum has waned somewhat and this coupled with overbought conditions suggests that USD/THB is unlikely to strengthen much further. For this week, USD/THB is more likely to trade between 35.27 and 35.60.”
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