|
Economic Update - Day 6
Day 6 after the coup leaves the markets as follows-
Offshore overnight has slipped back to 42% - still high but down from 92.9% Friday - this is still indicative of a shortage of THB in the offshore market - this remains a concern and would look for it to fall back further.
Onshore O/N down 4bp to 5.43%.
THB interbank trading 10 satangs stronger at 37.40 - noting that CNY and JPY firmer again overnight. Noting the expenisve offshore o/n THB rates - it is very expensive to SELL THB short - that is why so far there has been no weakness in the Baht.
SET - Closed Friday down 1.6% and today opens down 2 points - in line with Wall St and Tokyo declines.
__________________
Its My Life ..........!
|