The Thai currency is likely to move between 31.05 and 31.20 during the day, Krungthai Bank market strategist Poon Panichpibool said.

He said the baht would tend to move sideways, while players in the market were awaiting the outcome of the US Fed’s meeting.

Poon added that the baht would weaken from sale of stocks by foreign investors, after seeing the problems in vaccine procurement and distribution in Thailand.