Expects baht at 30.70-31.20/US dollar this week

BANGKOK, 6 January 2011 (NNT) – Kasikorn Research Center (KResearch) has predicted that the baht will move in the range of 30.70 and 31.20 baht against the greenback this week.

KResearch is urging investors to keep an eye on overseas capital movement and the US economy, including Reuters/University of Michigan survey of consumer sentiment index for February, mid-January government budget report, international trade report, wholesale stock in December, as well as the number of weekly unemployment welfare applicants.

Over the past week, the baht has strengthened against the greenback, with the support from the sales of US dollar by investors, the rising Thai stock index, and the appreciation of other currencies in the region.