Poon said that the baht is likely to swing widely if foreign investors switch to selling over market concern that the US Federal Reserve will adopt quantitative tightening as early as next month (May). He forecast that exporters would sell the dollar at a resistance level of 33.70. Poon said that amid the current high volatility in the currency market, businesses should use hedging tools such as options to manage risks. For the dollar, he expected uncertainty over the Ukraine-Russia conflict to drive up demand for the US currency, which is seen as a safe haven.

Source: The Nation Bangkok April 04, 2022 03:37 UTC