Poon said the baht might swing sideways and even strengthen as the currency market was open to more risks, which could see foreigners investing again in Thai stocks and bonds.

However, a Chinese economic slowdown due to the Omicron variant is still a risk factor to be closely monitored where the economy and baht are concerned, Poon advised.

He said the baht’s resistance level was 33.50, which could see exporters offloading the dollar, while the key support level was 33.20, which would spur importers to purchase the US currency.

Investors are ready to take more risks amid hopes that negotiations between Ukraine and Russia would be successful after Ukraine was reported to be ready to discuss the hot issue of becoming a neutral country, he said.

Moreover, there were hopes Russian President Vladimir Putin might sit down and negotiate with Ukrainian leader Volodymyr Zelensky, leading to an end of the war, Poon added.