The baht opened (September 10) to the US dollar at 31.25, strengthening from yesterday's closing of Bt31.37.
Jitipol Puksamatanan, head of market strategy at SCB Securities, said that the Thai currency will move between 31.15 and 31.35.
The S&P 500 rose by 2.01 percent while the Stoxx 600 rose by 1.26 percent as a result of the recovery of tech stocks and the expectations of investors that the US economy would move forward.
A Us job opening and workforce turnover survey (JOLTS) showed 6.62 million new jobs in the US market, suggesting that most private businesses have returned to the market after being closed due to the Covid-19 crisis.
Meanwhile, ten-year US and German Treasury yields increased to 0.70 per cent and -0.45 per cent , respectively, after the market was in a "risk-on" state.
Compared to other currencies, the dollar fell by 0.4 per cent, with the Canadian dollar being the strongest.
Jitipol advised investors to follow a key meeting of the European Central Bank ( ECB).
He said the baht was strengthened in line with a capital market that was recovering. In addition , investors made strong purchases of Thai bonds.
Before the ECB meeting he expected the Thai currency to trade in a narrow band.
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