Poon said the baht is likely to move according to the market’s investment and may strengthen to the key support level of 32.80 to 32.90 if the market is in a risk-on state. However, Poon said the baht will not go past the support level until basic factors in the country have recovered. Moreover, foreign investors are waiting to sell the currency after it strengthens, while exporters are selling at the key resistance level of 33.20 to 33.30. Meanwhile, the dollar may strengthen if the currency market is heavily volatile. The market is worried that the US Federal Reserve will raise the interest rate too much if the inflation numbers are higher than expected.

Source: The Nation Bangkok February 07, 2022 04:48 UTC