USD/THB could attempt a move to 33.80 by year end – UOB
|Strategists at the Quarterly Global Outlook from UOB Group’s Global Economics & Markets Research suggested USD/THB could climb to the 33.80 area by end of 2021.
Key Quotes
“The THB is the worst performing Asia FX year-to-date, dropping about 11% against the USD. By now, a large part of the negatives surrounding the THB is probably priced in.”
“As such, we are guarded to extrapolate further excessive weakness in the THB from current levels. Our updated USD/ THB forecasts are at 33.8 in 4Q21, 34.1 in 1Q22, 34.4 in 2Q22 and 34.7 in 3Q22.”
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