Bangkok, The baht touched its weakest level in more than two months at 35.88 before adjusting back to the level of 35.81-35.83 baht per dollar. This morning (10:30 a.m.) it is in the direction of continued depreciation from yesterday's market closing level of 35.69 baht per dollar. Miss Kanchana Chokpaisansin Research executive Kasikorn Research Center stated that the baht weakened in line with the yuan and other currencies in the region, while the dollar There is still continued support amidst a change in market perspective to assess that The Fed may not yet send a signal to cut the policy interest rate quickly. In addition, the market is still waiting to closely follow views on the situation and trends of the Thai economy. For the framework of the movement of the baht today Initial estimate is 35.60-35.90 baht per dollar. Meanwhile, important factors that need to be followed include signals of foreign capital. The direction of the Yuan and other Asian currencies, January PMI index (preliminary) for Japan , Eurozone, UK and US, and the results of the Bank of Canada meeting. Mr. Poon Panitchpibun, money market strategist, Krungthai GLOBAL MARKETS, Krung Thai Bank, said that the trend of the baht value is estimated that it may be at risk of fluctuating and depreciating somewhat. After the Thai capital market faced continuous asset selling pressure. Amid concerns that the economic outlook may not expand as analysts estimate. If the Ministry of Finance's forecast is correct (it sees the Thai economy expanding only +1.8% in 2023) In addition, the performance reports of all listed companies during this period It's still not very bright. As a result, foreign investors may still be net sellers of Thai stocks. However, they should keep an eye on the PMI index reports of major economies, especially in the United States. and the Eurozone and England 'If the baht weakens through the resistance zone of 35.70-35.80 baht per dollar. This will allow the baht to fluctuate and depreciate to easily test the 36 baht per dollar zone. In terms of valuation, the baht is around 36 baht per dollar. It is considered to be at a reasonably Undervalued level from evaluation using the Baht Index. REER recommends that entrepreneurs should use a variety of hedging tools, such as Options, to increase efficiency in protecting against exchange rate risk. and conduct transactions in local currency (Local Currency),' Mr. Poon said. Source: Thai News Agency