Bangkok April 2021

BUSINESS SUPPLEMENT
FOREIGN CURRENCY UPDATE
The U.S. Dollar
The U.S. Dollar reversed
recent losses as the interest
rate on the 10-year note
rose to its highest level in 14
months, testing 1.75 per cent.
The DXY Dollar index, the index
that measures the U.S.
Dollar’s value against a basket
of major currencies, rose from
89.94 to 91.74. Against the
Thai Baht, the U.S. Dollar rose
quite strongly from a recent flat
line of 30.00, (which had been
a closely contested level for
several months) up to 30.65, a
two per cent increase.
The British Pound
After hitting a recent high at
1.4170, The British Pound fell
back to 1.3833 before steadying
at 1.3870. This could mark
the end of long bull run, or it
may simply be a temporary
retracement ahead of further
rises. With uncertainties about
Brexit largely now out of the
picture, the latter scenario
could take precedent. Yet a
stronger U.S Dollar has arguably
been behind the Pound’s
losses. Against the Thai Baht,
the Pound gained ground
slightly due to the stronger Dollar
outweighing the small pullback
of late. The Pound stood
at 42.75 rising from 42.06. If
the pound regains strength
against the U.S. dollar then the
rise against the Thai Baht could
continue in earnest.
The Japanese Yen
The Japanese Yen weakened
against the U.S. Dollar
from 105.71 to 108.90. When
the USDJPY rate rises, this indicates
a fall in the value of the
Yen since a dollar buys more
Yen than it did previously. Once
again, U.S. Dollar strength is
likely to be behind the move,
although the Yen may have
lost ground as it gave up some
of its safe haven status in reaction
to rising stock markets
and other risk assets. Against
the Thai Baht, the Yen fell very
slightly from 0.2814 to 0.2806
The Russian Ruble
The Russian Ruble has continued
to trade in a very tight
range against the U.S. Dollar
moving from 74.33 to 74.06.
The millpond action suggests
volatility may be ahead since it
represents maximum disagreement
between buyers and sellers.
Against the Thai Baht the
Ruble moved from 0.4010 to
0.4154, following the weakening
of the Thai Baht against the
US Dollar.
The Euro
The Euro butted heads with
the 1.2200 mark against the
US Dollar but could not hold
that level, giving back recent
gains to trade down to 1.1908.
U.S. Dollar strength only gave
more impetus to potentially end
what may have already been a
fading rally. ECB and Federal
Reserve decisions were both
mildly dovish and so it will be
for the markets to decide the
next move. Against the Thai
Baht, the Euro fell slightly from
36.85 to 36.62.
is brought to you by
World Transfer
GET A BETTER DEAL FOR YOUR MONEY EXCHANGE
061 608 4830
contact@worldtransfer.online
www.worldtransfer.online
World Transfer Paris Bangkok London
GET A BETTER DEAL FOR YOUR MONEY EXCHANGE
Send money worldwide
It’s easy and free to open an account online
Send money overseas easily and securely,
with bank-beating exchange rates
The easy way for businesses to transfer foreign currency online 24/7 and private customers
to manage payments overseas, such as for a second home or education fees.
FINANCIAL ANALYSIS INVESTMENTS INSURANCE BUSINESS SUPPORT
www.worldtransfer.online www.insuranceags.com www.agscorporate.com
Office: 061 608 4830
contact@worldtransfer.online
Thepprasit Market next to 3BB
Thepprasit Rd, Pattaya, Chonburi 20150
Office: 061 608 4830, 089 8113 599
WORLD INVESTMENT
GLOBAL INVESTMENT SOLUTIONS
AGSERVICE