Thai Baht Slips Despite Improved Industrial Statement

        0725 GMT [Dow Jones] Thailand's baht slips to 32.82 against the U.S. dollar from its 32.75 closing on Tuesday, despite upbeat results of its monthly industrial sentiment survey. Industrial confidence rose to 87.5 in October from 86.1 the previous month, ending two straight months of decline. The baht has succumbed to the broad rise of the U.S. dollar triggered by USD/JPY marking a new 7-year high. But there is a lack of momentum on the USD/THB daily chart, suggesting that the baht could still fend off general U.S. dollar strength. The daily Bollinger uptrend channel caps USD/THB at 32.83, serving as a possible pivot for a near-term rally. USD/THB needs a daily close above this mark to trigger the bullish technical cue. (ewen.chew@wsj.com)
        (END) Dow Jones Newswires

        November 19, 2014 02:25 ET (07:25 GMT)

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