Kevin Rudd is likely to be replaced by his deputy Julia Gillard in a leadership contest which takes place in 2 hours time. The AUD has held up reasonably well despite the political turmoil. Elsewhere the GBP continues to make strong gains, closing in on the psychologically important 1.50 level and USD/JPY has triggered stops below 90.00 and the focus is again definitely on the downside.
Good luck today
