#USDTHB @ 34.4200 faces extra consolidation near term – UOB
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Markets Strategist Quek Ser Leang at UOB Group expects USD/THB to remain side-lined in the short-term horizon.
“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.”
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