USD/THB faces some side-line trading near term – UOB

Markets Strategist Quek Ser Leang at UOB Group suggests USD/THB is likely to navigate between 35.68 and 36.35 in the next few sessions.

Key Quotes

The strong surge in USD/THB that sent it to a high of 36.35 came as a surprise (we were expecting it to trade sideways). USD/THB pulled back from the high in overbought conditions.

While further USD/THB is not ruled out at later stage, USD/THB is more likely to consolidate in a range of 35.68/36.35 this week.