KResearch, the research arm of Kasikornbank, or KBANK, said the baht this morning stood at about 33.62 to 33.64 per dollar, compared with yesterday's market close of 33.62 per dollar. The baht moved in a narrow range but may face increased depreciation pressure during the day after global crude oil prices rebounded, with Brent holding above 101 dollars per barrel this morning. Meanwhile, dollar selling has slowed somewhat as the market awaits the minutes of the Federal Reserve's September 15-16 meeting, due to be released tonight. KResearch initially estimates the baht's trading range today at 33.55 to 33.70 per dollar. Key factors to watch include the situation in the Middle East, foreign fund flows, the direction of US bond yields, and the Fed meeting minutes.
Kasikornbank Public Company LimitedBrent crude above $101 raises Thailand's import bill and depreciation pressure on the baht, while markets await Fed minutes.
