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Baht dips once again in unpredictable currency market


May 7, 2022

Volatility in the currency market is still supporting the dollar and pressing the baht, Poon included. On the other hand, the Covid-19 scenario in China is preventing financial investment in Asian emerging markets, implying the baht is most likely to swing sideways, he stated.

Nevertheless, the baht would deal with down pressure from purchases of gold if the rate decreases.
Poon stated the Thai currency’s essential resistance level would be 34.50, at which point exporters would offer the dollar.

He encouraged organizations to utilize hedging tools such as alternatives to handle dangers in the extremely unpredictable currency market.

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