VOT Research Desk
Quek Ser Leang, market strategist at UOB Group, warned that USD/THB could lose more ground and drop below the 34.00 area.
Prior to widening its loss in today’s Asian trading, USD/THB last week closed drastically lower by 2.88% (Friday’s close of 34.70).
This week, further USD/THB weakening is predicted as a result of the swiftly increasing downward momentum. 34.30 is the level to monitor, followed by 34.05. On the plus side, a breakthrough of 35.05 (minor resistance is at 34.85) would suggest that the USD/THB is unlikely to decline further.
