Australian PM Malcolm Turnbull confirmed his resignation earlier this morning and stated he will not stand for PM as the ruling Liberal Party voted 45-40 to hold a leadership ballot. Subsequently former Treasurer Scott Morrisson won the ballot and was elected PM, with former Energy Minister Josh Frydenberg winning the party vote for deputy leader.. AUD/USD was little changed on the announcement of Turnbull’s resignation, hovering above one-week lows after suffering its worst day versus the US dollar since June 14, but then rallied after the new PM was announced. The pair touched 0.7290, testing the 200-hour moving ... (full story)