He said the baht is likely to fluctuate across a wide range and could weaken as the dollar is strengthening. Poon however speculated that the baht would not weaken past its key resistance level of 36.50 as exporters are waiting to offload the dollar at that level. Moreover, foreign investors do not appear to be in a hurry to sell their Thai assets and Poon believes they will in fact purchase more Thai stocks as prices head down while investors are wary of taking risks in the US and European stock markets. However, he noted the baht could be volatile today, Wednesday, especially as China announces various economic results.
