ABC reporting as talk grows of a challenge to PM Tony Abbot's leadership

Abbott is likely to hold the West Australian seat of Canning in next weekend's by-election, yet is destined to face a challenge for his own seat as Prime Minister regardless, says the Sydney Morning Herald

  • Sky TV reporting that 2 senior leaders have asked Abbott to step down
  • ex-Communications Minister Turnbull being urged to lead a challenge to Abbott for the leadership
  • Abbott narrowly survived another challenge in February

Update: 06.04 GMT

  • Turnbull confirms he has met with Abbott and will make a challenge to his leadership
  • course of action urged on him. has consulted with many colleagues
  • govt has not been successful in providing required level of leadership
  • Abbott has not provided economic confidence needed

AUDUSD near session lows at 0.7081. Turnbull's challenge may ultimately by Aussie$-positive but the uncertainty of political change invariably causes market wobbles

What do our Aussie readers make of it all ?