He reckoned that the baht will likely fluctuate and weaken to its resistance level at 35.60 as the dollar is strengthening because the market is demanding safe-haven assets due to concerns about the Chinese economy and other economic factors.

However, the baht’s weakening might slow down if foreign investors buy stocks and short-term bonds.

He suggested that investors should be cautious of the rising volatility of the Emerging Asia market which might pressure the baht because the market is worried about China’s Covid-19 situation.