BANGKOK, Thailand – Thai baht opened at 34.48 against the US dollar on January 20, showing little change from last week’s close of 34.46. The baht has been trading in a sideways range (34.34-34.54 USDTHB) since Friday, with fluctuations driven by shifts in the US dollar’s value and market positions. The baht strengthened briefly when the dollar weakened, but then reverted to testing the 34.50 zone as the dollar rebounded.
The baht is under pressure due to the strong US dollar amidst uncertainty surrounding US policy, especially with President Trump’s upcoming inauguration. The baht is also affected by falling gold prices (XAUUSD) and rising US 10-year bond yields, contributing to a market shift toward risk-on sentiment. This week, the baht’s range is expected to be between 34.15 and 35.00 per dollar, with an immediate forecast between 34.35 and 34.55.
