Halister News

(Bloomberg) -- Baht gains, along with other Asian currencies, after FOMC minutes suggested U.S. rates will stay low for longer. Probability of Fed rate hike in December fell to 48.5% yday from 51.0% on Aug. 16.

• USD/THB down 0.3% to 34.590, below 10-DMA at 34.781
  • Pair is consolidating within bear channel drawn from May 17 low at 35.320 and June 1 high at 35.800; click here for chart
  • Channel top side today at 34.998, channel base at 34.372
• Singtel buying stakes in Thailand’s Intouch and India’s Bharti Telecom Ltd
• Cabinet approves 35.75b baht budget for low-cost housing
• Overseas investors bought 1.31b baht of Thai stocks and 9.25b baht of bonds yesterday
• THB 5-year interest-rate swaps rising above 100-DMA at 1.799% for first time since June 6; click here for chart
• Yield on 3.85% govt bond due Dec. 2025 steady at 2.091%
• Five-year credit protection costs for Thailand rose for second day, up 1 bp to 89.5 bps, holding below 50-DMA at 103 bps, according to CMA New York data.
• NOTE: Mark Cranfield is an FX strategist who writes for Bloomberg. The observations he makes are his own.