USD/THB faces extra range bound near term – UOB

Markets Strategist Quek Ser Leang at UOB Group suggest USD/THB is now likely to trade between 34.05 and 34.50 in the near term.

Key Quotes

“We expected USD/THB to trade in a range between 34.13 and 34.55 last week. However, USD/THB traded in a slightly lower range of 34.06/34.52 before ending the week at 34.16 (-0.84%).”

“The price movements still appear to be consolidative and we continue to expect USD/THB to trade in a range, likely between 34.05 and 34.50.”