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USD/THB is expected to gather further pace in the next months following a forecasted softer tone in the Thai baht, in opinion of strategists in UOB Group’s Quarterly Global Outlook.

Key Quotes

“On the charts, there is a strong support for USD/THB at 31 despite broad USD weakness.” D

“Due to the domestic economic woes, we expect the THB to weaken at least for the next two quarters before stabilizing.”

“Our updated USD/THB point forecasts are 31.00 for 4Q20, 31.30 for 1Q21, and 31.50 for both 2Q and 3Q21.”