USD/THB faces extra consolidation near term – UOB

Markets Strategist Quek Ser Leang at UOB Group expects USD/THB to remain side-lined in the short-term horizon.

Key Quotes

“Last Monday (17 Apr, spot at 34.33), we held the view that USD/THB ‘is likely to trade with an upward bias but a sustained rise above 34.55 is unlikely’. Our expectation did not materialize as USD/THB traded in a quiet manner between 34.22 and 34.51.”

“The price movements appear to be consolidative and this week, we expect USD/THB to trade in a range, likely between 34.07 and 34.55.”