He said the market is being cautious and may pressure the baht to weaken, especially if foreign investors sell Thai stocks for profits. However, the baht will not weaken much as there are no factors strengthening the dollar. Moreover, the baht is supported by gold-selling transactions. In the short term, the baht’s key support level is at 36 to the dollar as some importers and Japanese multinational corporations bought the dollar and Japanese yen recently. Meanwhile, most exporters are waiting to sell the dollar at 36.40, the baht’s resistance level.

Source: The Nation Bangkok August 02, 2022 02:31 UTC