Poon said that the baht might strengthen as foreign investors are buying Thai stocks and short-term bonds.

He believed that foreign investors are investing in the baht while exporters are waiting to sell the dollar after the baht reached 33 to the dollar, which will cause the baht to not weaken much.

However, the baht might fluctuate from the dollar’s trend and the gold sell-offs. The gold price that dropped to the key support level of 1,800 dollars per ounce might cause investors to buy on dips. These investments will cause the baht to weaken.