Thailand Baht Weaker After Yingluck Court Ruling

        0711 GMT [Dow Jones] Thailand's baht slipped to 32.38 to the U.S. dollar from around 32.35 after the Constitutional Court ruled Prime Minister Yingluck Shinawatra abused her power in 2011 and must be removed from office. The ruling was somewhat expected but the impact of the latest twist in the political impasse was muted by the court allowing the caretaker cabinet to stay on--averting deeper disruption. USD/THB remains well capped by a technical barrier at 32.41--the daily Ichimoku Cloud resistance zone--which should keep baht weakness at bay for now. USD/THB is now 32.36 versus its Tuesday close of 32.34. (ewen.chew@wsj.com)
        (END) Dow Jones Newswires

        May 07, 2014 03:11 ET (07:11 GMT)