He added that the baht may further strengthen to 34 as it is being pressured by a weakening dollar and dividend payments. However, he said, it may not cross the resistance level because exporters are waiting to sell the dollar.

Poon also advised investors to monitor foreign investors, as there is a chance that the baht will test the key resistance level of 34 if foreign investors sell a large number of stocks and bonds.

He added that there is a possibility the market will close at a high-risk level, though foreign investors are still trading in Thai assets.

However, he said, investors should use hedging tools to deal with high volatility in the currency market.