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Aussie rallies as new prime minister picked
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)
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