Poon said that the baht might continue to weaken due to the Omicron variant of Covid-19 which caused investors to sell Thai assets. 

The key resistance level for the baht would be at 34 to the dollar, which is the level at which exporters might sell the US currency and the Bank of Thailand might slow down the volatility.

If the baht weakens past the key resistance level, the baht might weaken to 34.15 and 34.40 to the dollar.

Poon said that the dollar might move sideways after the US Federal Reserve is speeding up to decrease quantitive easing which might increase the level of inflation. Meanwhile, the demand for safe-haven assets during the Omicron variant crisis especially the US 10-Year Bond that went down recently.

Recently, investors are choosing to hold government bonds, Japanese Yen, and Swiss Franc more than the US dollar.