THB is expected to come under extra pressure – UOB

The Thai baht risks further depreciation in the short-term horizon, according to FX Strategists at UOB Group’s Quarterly Global Outlook.

Key Quotes

“With travel confidence still weak, together with continued outflows from Thai stock and bond markets, THB may weaken further to 33.30 by 2Q20 and a further 34.00 by 3Q20 before a China-led recovery in 2H20 spur a recovery to 33.50 in 4Q20 and 33.00 in 1Q21.”