INSIDE THAILAND: Baht Falls; USD/THB Momentum Studies Bullish
Source: BFW (Bloomberg First Word)
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(Bloomberg) -- Baht falling for second day, down 0.2% to 35.213 per dollar, tracking dollar strength vs major currencies.
Alert: HALISTER1- USD/THB momentum studies turning higher; move today above 100-DMA at 35.258 may confirm consolidation pattern since early June is ending; click here for chart
- Thai central bank has been making large FX purchases, while in June it relaxed rules for locals’ investment overseas and in FX assets, HSBC analysts write in July 12 note; however, measures unlikely to turn tide for THB
- Trend for Thai foreign reserves here; next data release on July 15
- Mark Mobius makes contrarian bets on China, Thai, stocks
- Thai stocks enter bull market after closing at 11-month high
- Thailand to sell THB30b of bonds due in 2022
- Yield on 3.85% govt bond due Dec. 2025 steady at 1.942% after rising 5 bps yesterday
- 5-yr credit-protection costs for Thailand dropped 2 bps yesterday to 102 bps, lowest daily close since July 23, 2015: CMA data
Source: BFW (Bloomberg First Word)
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UUID: 7947283