The baht hit a new 31-month high of 32.14 to the US dollar before closing at 32.23, still stronger than Friday's close of 32.40. Ms. Kanchana Chokpaisansin, Research Manager, Kasikorn Research Center, stated that the baht continued to strengthen even though foreign investors were net sellers of Thai stocks and bonds today because the sentiment of the dollar remained weak before the Fed Chairman's speech tonight. For the direction of fund flows today, foreign investors were net sellers of Thai stocks by 963 million baht and were net outflows from the Thai bond market by 780 million baht. For the baht's movement framework tomorrow, the initial assessment is 32.10-32.40 baht per dollar, while important factors to monitor include the market's response to the Fed chairman's statement, the direction of foreign capital, the global gold price situation and other currencies in the region, the September PMI index of Japan, the Eurozone, the UK and the US, as well as the job openings and labor turnover rate of the US in August. Source: Thai News Agency
The baht touched 32.14 baht/dollar, a new 31-month high.
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