House Speaker & Two Deputies Elected, Focus Moves To PM Vote

Prachachart leader Wan Muhamad Noor Matha has been appointed the new Speaker of the House of Representatives, which allows the pro-democracy coalition to put a major internal dispute behind them and focus on efforts to form administration. Wan Muhamad ran unopposed, which means he was selected automatically.

• The Move Forward Party (MFP) and Pheu Thai each nominated one Deputy Speaker. MFP's Padipat Suntiphad defeated Ruam Thai Sang Chart Party's Witthaya Kaewparadai with 312 votes to 105, becoming First Deputy Speaker. Pheu Thai's Pichet Chuamuangphan ran unopposed to become Second Deputy Speaker.
• Wan Noor's next big task will be presiding over the parliamentary vote on Prime Minister selection. While the resolution of the dispute over the House Speaker position provides some temporary reprieve on the political risk front, there is considerable uncertainty over the coalition's ability to take power.
• Crucially, it remains unclear what would happen if parliament rejected MFP leader Pita's candidacy. Some have speculated that it could result in a reshuffling of political alliances, or in a fresh general election. It could be expected that any serious tensions in the MFP-led coalition will reduce its bargaining power against the military-controlled Senate, reducing the bloc's chances to take power.
• The baht has outperformed all its regional peers today, presumably drawing support from the resolution of the House Speaker issue. Spot USD/THB managed to break below its 200-DMA and ease past the 35.00 handle. The SET Index has added ~0.6%, reaching its highest point since June 22.