Thai baht getting stronger

The Thai baht continues to strengthen, coming in at 31.41 against the US dollar. Nation Thailand reports that Jitipol Puksamatanan, Head of Markets Strategy at SCB Securities, predicts the currency will fluctuate between 31.35 and 31.85 against the US dollar, which continues to weaken.

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Meanwhile, the Standard & Poor 500 Index has dropped 0.6%, which is being blamed on disappointing company turnovers. The S&P500 assesses the performance of 500 large organisations listed on US stock exchanges. The Stoxx Europe 600, an index of European stocks, increased by 0.6%.

Jitipol says the Swiss franc has strengthened its position as a safe haven since late June, adding that investors will look to safe-haven currencies before any others in emerging markets.

SOURCE: Nation Thailand