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fxJun 30, 2026, 9:10 PM

Thai Baht Recovery Seen Shallow Without USD Fade – OCBC

OCBC notes USD/THB's recent rebound faces resistance near 33.40, with Thai baht weakness driven by broad USD strength and equity outflows. The bank says any recovery will be limited unless the USD fades.

USDTHB

OCBC analyst Christopher Wong observes that USD/THB's sharp move higher is now encountering interim resistance around the 33.40 level.

Bank of Thailand officials attribute the baht's weakness primarily to broad US dollar strength and ongoing Thai equity outflows. They have signaled readiness to intervene if excessive FX volatility emerges.

Wong argues that without a material pullback in the USD, any recovery in the Thai baht is likely to remain shallow.

Source: FXStreet Forex News