- Analytics
- News and Tools
- Market News
- USD/THB faces some consolidation near term – UOB
USD/THB faces some consolidation near term – UOB
In the opinion of Markets Strategist Quek Ser Leang at UOB Group, USD/THB is likely to navigate within a consolidative phase for the time being.
Key Quotes
After USD/THB rose to a high of 35.60 and pulled back, we highlighted last Monday (21 Aug, spot at 35.28) that “the pullback in USD/THB could extend to 34.95, but any decline is likely part of a 34.95/35.60 consolidation range.” We also highlighted that “a clear break below 34.95 is unlikely.” USD/THB weakened more than expected as it dropped to 34.84 before rebounding. Despite the drop to 34.84, there is no significant increase in downward momentum.
This week, we expect USD/THB to trade in a range, probably between 34.88 and 35.52.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
