Poon said the Thai currency would likely continue to swing sideways, pressured by the strengthening dollar after the US Federal Reserve signalled it would hasten to tighten monetary policy, as well as short-term demand for safe assets.

Meanwhile, dividend transactions worth 4-5 billion baht this week could add pressure on the baht.

However, sales of gold after its price increased to the key resistance level might support the baht, limiting losses in this period.

He expected exporters to sell the dollar at 33.70 to 33.80 as long as the market does not turn heavily risk-averse, which would add pressure to the baht.

With high volatility in the currency market, businesses should use hedging tools like options to manage risks, he said.