He reckoned that the baht is likely to fluctuate and weaken to test its resistance level from 36.70 to 36.80 to the greenback, which is strengthening due to concerns over economic slowdown and worse-than-expected performance of listed companies.

Also, investors believe the US Federal Reserve may push the interest rate up by a fair bit.

Poon also warned investors to beware of China enforcing strict lockdown measures and investors’ concerns about the Covid-19 situation in Thailand. He said these factors may affect foreign transactions in the short term.

He advised investors to use hedging tools such as options to manage risks in a highly volatile currency market.