Forex News: Financial markets barely change following widely expected Bank of Thailand 25bp interest rate hike. USD/THB flat at 33.51-33.52. "The dollar demand mostly by offshore players pushed the dollar/baht to day's high of THB33.52, while the rate increase barely affected the market as it is what the market expected," says forex dealer. Meanwhile, most Thai government bonds steady. "Players are hesitating to take any position now as the rate hike and upward interest rate trend are largely priced in," says local bond dealer. Adds trade expected rangebound in afternoon session. Bid/offer of most active issue due March 2013 now quoted at 55.19%/55.14% vs 5.16%/5.14% earlier today.
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