Bangkok: The baht traded between 31.89 and 31.91 baht per dollar this morning, showing a slight appreciation from the previous day's domestic market close of 32.04 baht per dollar.
According to Thai News Agency, the Kasikorn Research Center reported that the baht strengthened slightly during the Asian session this morning, aligning with other Asian currencies and rising global gold prices. The latest gold spot price was US$4,211 per barrel, with Thai gold bars selling at 63,500 baht per baht of gold, and gold ornaments selling at 64,300 baht per baht of gold. The dollar currently lacks clear support ahead of the US Federal Reserve meeting midweek, as the market continues to anticipate a rate cut at this meeting.
The baht's movement is initially estimated at 31.70-32.00 baht per dollar today. Important factors to monitor include foreign fund flows, the direction of Asian currencies and global gold prices, the Thai-Cambodian conflict, and US consumer inflation forecasts for November.