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Trades insofar this week have shown that USD bears are
determined to remain in control, especially against the Asian currencies.
In an environment of firmer oil prices, MYR has been the outperformer,
strengthening around 0.8% against the USD. THB was a close runner-up
yesterday, underpinned by higher-than-expected growth print for 2Q. Our
economist expects little impact from the recent multiple bomb and arson
attacks as it is not Thailand’s tourism high season and similar
incidents...
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