Markets Strategist Quek Ser Leang at UOB Group suggests the USD/THB is likely to navigate between 35.68 and 36.35 in the next few sessions.
Key Quotes
The strong surge in the USD/THB that sent it to a high of 36.35 came as a surprise (we were expecting it to trade sideways). The USD/THB pulled back from the high in overbought conditions.
While further USD/THB is not ruled out at a later stage, USD/THB is more likely to consolidate in a range of 35.68/36.35 this week.
