Bank of Ayudhya (Krungsri) forecasts the baht will move in a range of 32.80-33.35 baht per dollar this week, as investors await US August employment data after the Fed chair signaled a focus on controlling inflation, with markets pricing in about a 60% chance of a rate hike in September. Last week, the baht closed weaker at 32.94 baht per dollar after touching its strongest level in two months, while foreign investors sold Thai stocks and bonds worth a net 12,228 million baht and 360 million baht, respectively. On the domestic front, attention will be on July current account data, with Krungsri expecting the Bank of Thailand to hold rates throughout this year amid weak domestic demand.
Bank of Ayudhya PCLKrungsri expects BOT to hold rates, but no direct impact on Bank of Ayudhya's operations mentioned.
Baht expected to trade in 32.80-33.35 range; Fed rate hike odds and weak domestic demand affect USD/THB.
