The baht strengthened to its highest level in nearly 16 months this morning at 33.53-33.55 baht/dollar. Market strategists in the money and capital markets accept that the baht has strengthened more than previously estimated. The Kasikorn Research Center revealed that the baht was adjusted to around 33.53-33.55 baht per dollar this morning (09.47) compared to yesterday's closing price of 33.67 baht per dollar. The baht hit a new strongest level in nearly 16 months at 33.54 baht per dollar, while the dollar continued to weaken following the decline in US bond yields after US economic data released last night showed mixed signs of weakness. Although the ISM service sector figures for August and the number of weekly jobless claims were better than expected, the private sector employment figures for August increased less than expected and the previous month's data was revised downward. For the baht's movement range today, the Kasikorn Research Center initially estimated it to be 33.45-33.70 baht per dollar, whi le important factors to monitor include the direction of foreign fund flows, the global gold price situation, the Eurozone's Q2/67 GDP figures, and US labor market data, especially non-agricultural employment figures. and the unemployment rate in August Mr. Poon Panichpiboon, Krungthai GLOBAL MARKETS, Krungthai Bank, revealed that since last night, the baht has been moving in a sideways range (fluctuating within the range of 33.56-33.70 baht per dollar). The baht has been moving in line with the direction of the dollar (including the US 10-year bond yield) and the flow of gold buying and selling transactions. The baht has strengthened and approached the 33.50 baht per dollar zone following the weakening of the dollar along with the decline in the US 10-year bond yield after the ADP private sector employment figures in August increased by 99,000 positions, worse than the market's estimate of an increase of more than 140,000 positions. During that period, the price of gold has also adjusted to approach the sho rt-term resistance zone again. As for the trend of the baht, it is admitted that the baht has strengthened much more than we had estimated (it has fallen below the support zone of 33.75 baht per dollar. (estimated at the beginning of the week), which may be partly a result of adjustments in the position (Cut Loss) of market players who have a Short THB position (looking at the weakening baht), especially at the time when the baht strengthened and fell below the support zone of 33.75-33.80 baht per dollar in the previous day due to many factors, including the weakening of the dollar, the flow of gold profit-taking transactions, and foreign investors' purchasing of Thai assets. However, the appreciation of the baht may slow down to near the important support zone of 33.50 baht per dollar as market players are waiting for the US employment report on Friday night, which will be an important factor in determining the direction of the Fed's policy interest rate and will significantly affect the direction of the dol lar, US bond yields, gold prices, and the baht. Source: Thai News Agency