Analysts at Nordea prefer USD over some EMs such as the THB. USD/THB is trading at 32.6800.
Key quotes
“Thailand has been bombed 10 years back on tourism, which is obviously the case many places around the globe since flight-bans are widespread and borders are closed.”
“No tourism will likely lead to a current account deficit, which could turn into a headache for the THB, which has otherwise been a star-performer in EM space for a long while.”
“We go long USD/THB with a target of 36.45 and a S/L of 31.15.”
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