MFP & Pheu Thai To Hold Presser At 8pm After Parliament Opening

The Move Forward Party (MFP) and Pheu Thai will hold a joint press conference on the House Speaker issue at 20:00 local time (14:00BST) after the monarch officially opens parliament at 17:00 local time (11:00BST) in Bangkok. Local press reports suggest that Pheu Thai have extended an olive branch and want to propose Wan Muhamad Noor Matha of the Prachachart Party as a candidate for House Speaker.

• The dispute over the House Speaker position has been a a key stumbling bloc in the cooperation between the MFP and Pheu Thai, the two main forces in the emerging eight-party pro-democracy coalition. While both remain committed to preserving their alliance, a failure to resolve this dispute would significantly lower their chances of making a serious attempt at forming the next administration.
• The MFP-led bloc faces multiple challenges to its ambition to replace the outgoing royalist, pro-military government. The MFP and its leader Pita Limjaroenrat are fighting legal complaints, while the wider coalition still needs to muster enough support in the military-controlled Senate to form government. Any threats to the coherence of the bloc would exacerbate risks posed by those external challenges.
• The uncertainty during this transition period takes toll on Thai assets, with the baht being one of the worst performers in emerging Asia since the May 14 election. If there's a deal on the House Speaker position between the MFP and Pheu Thai, it could be a short-term positive for the THB, although it doesn't remove political uncertainty around the Senate's stance and legal complaints against the MFP.