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THB: Baht Ticks Lower After Key Court Ruling

THB

Spot USD/THB ticked higher as the Constitutional Court announced the dissolution of the main opposition Move Forward Party (MFP) coupled with a 10-year ban from politics handed to the party's executive committee members, including ex-leader Pita Limjaroenrat and current leader Chaithawat Tulathon. The rate deals +0.125 at 35.655, with the baht sitting close to the middle of the Asia FX scoreboard.

  • Today's verdict was broadly expected in Thailand, with local analysts and media outlets flagging it as the most likely scenario ahead of the event. There is more uncertainty around next week's verdict in an ethics case against Prime Minister Srettha Thavisin, which could potentially result in his ouster. If Srettha loses his post, parliament will vote for a new PM drawn from the candidates registered by political parties ahead of last year's election.
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