Thailand's Constitutional Court on Friday nullified February's election that was disrupted by protesters, further delaying the formation of a new government after months of street protests aimed at bringing down Prime Minister Yingluck Shinawatra.
In a 6 to 3 vote, the court ruled that the election violated the constitution, as voting had not taken place in 28 districts in southern Thailand where candidates were unable to register due to blockades by the anti-government protesters.
"The Feb. 2 election could not take place across the kingdom on the same day," the court said in a statement.
It was unclear when a new election would take place. Somchai Srisutthiyakorn, an Election Commission member, said the country had two options to organise a new vote.
"The commission could discuss with the government about issuing a new royal decree for a new date or we could ask the heads of all political parties to decide together when best to set the new election date," he told reporters.
Recommended Content
Editors’ Picks
EUR/USD fluctuates in daily range above 1.0600
EUR/USD struggles to gather directional momentum and continues to fluctuate above 1.0600 on Tuesday. The modest improvement seen in risk mood limits the US Dollar's gains as investors await Fed Chairman Jerome Powell's speech.
GBP/USD stabilizes near 1.2450 ahead of Powell speech
GBP/USD holds steady at around 1.2450 after recovering from the multi-month low it touched near 1.2400 in the European morning. The USD struggles to gather strength after disappointing housing data. Market focus shifts to Fed Chairman Powell's appearance.
Gold retreats to $2,370 as US yields push higher
Gold stages a correction on Tuesday and fluctuates in negative territory near $2,370 following Monday's upsurge. The benchmark 10-year US Treasury bond yield continues to push higher above 4.6% and makes it difficult for XAU/USD to gain traction.
XRP struggles below $0.50 resistance as SEC vs. Ripple lawsuit likely to enter final pretrial conference
XRP is struggling with resistance at $0.50 as Ripple and the US Securities and Exchange Commission (SEC) are gearing up for the final pretrial conference on Tuesday at a New York court.
US outperformance continues
The economic divergence between the US and the rest of the world has become increasingly pronounced. The latest US inflation prints highlight that underlying inflation pressures seemingly remain stickier than in most other parts of the world.