USD/THB: Target of 36.45 – Nordea

Analysts at Nordea prefer USD over some EMs such as the THB. USD/THB is trading at 32.6800.

Key quotes  

“Thailand has been bombed 10 years back on tourism, which is obviously the case many places around the globe since flight-bans are widespread and borders are closed.”

“No tourism will likely lead to a current account deficit, which could turn into a headache for the THB, which has otherwise been a star-performer in EM space for a long while.”

“We go long USD/THB with a target of 36.45 and a S/L of 31.15.”