BANGKOK, 8 August 2011 – Kasikorn Research Centre (KResearch) has estimated that the Thai baht this week (from 8 to 11 August 2011) will move in the range of 29.80-30.20 baht per US dollar with external factors as the major focus this week.
KResearch reported that the baht had been fluctuating last week as it appreciated in the beginning and the middle of the week similar to other Asian currencies while investors were selling US dollars to reduce risk after the US could increase its debt ceiling within the time frame of 2 August 2011.
The baht then became weakened amid concerns over the global economy and the Japanese intervention in its foreign exchange market, strengthening the US dollars later on. The baht closed at 29.84 per US dollar on Friday, compared with 29.82 baht per US dollar a week earlier.
As for this week, the baht is expected to move in the range of 29.80-30.20 baht per US dollar. No significant domestic factors affecting the baht trade should be monitored this week.
Meanwhile, external factors that should be focused are important economic figures from the US and the meeting outcome of the US central bank.
