BAY expects baht to move in a range of 33.40 to 34.00 per dollar this week

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The Global Markets Group at Bank of Ayudhya expects the baht this week to move in a range of 33.40 to 34.00 per dollar, after the baht closed weaker at 33.70 per dollar last week and touched its weakest level in 15 months. Pressure came from a stronger dollar, surging US bond yields, and global crude oil prices testing two-month highs following attacks on oil tankers in the Red Sea by Yemen's Houthi group. The market will watch the Federal Reserve meeting on July 28 to 29, where it is expected to keep interest rates at 3.50 to 3.75 percent and may express more concern about inflation. The Bank of England and the Bank of Japan are also expected to hold rates at their meetings this week. On the domestic front, the Ministry of Finance raised its 2026 economic growth forecast to 2.5 percent from 1.6 percent, supported by trade, investment, domestic consumption, and government stimulus measures. The Ministry of Commerce reported that June exports rose 20.8 percent from a year earlier, while imports surged 50.3 percent, resulting in a trade deficit of 6.53 billion dollars.

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