USD/THB could attempt a move to 33.80 by year end – UOB

Strategists at the Quarterly Global Outlook from UOB Group’s Global Economics & Markets Research suggested USD/THB could climb to the 33.80 area by end of 2021.

Key Quotes

“The  THB  is the worst  performing Asia FX year-to-date, dropping  about 11% against the USD. By  now,  a large part of  the negatives  surrounding  the  THB is probably priced in.”

“As such, we are guarded  to extrapolate  further excessive  weakness in the THB  from  current levels. Our  updated USD/ THB  forecasts are at  33.8 in 4Q21, 34.1 in 1Q22, 34.4 in 2Q22 and 34.7 in 3Q22.”