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AUD largely consolidates overnight gains.....>

AUSSIE
AUSSIE: AUD largely consolidates overnight gains following the announcement that
Treasurer Morrison won the run off to become the new AU PM. Markets view
Morrison as more fiscally responsible and this spiked AUDUSD 40 pips to react
highs of $0.7290. AUDNZD based ahead of the 55-dma, squeezed to A$1.0966, before
fading. EURAUD touched A$1.5855, but has since recovered to make a brief show
above A$1.5900, while AUDJPY holds above the Y81 level. AUD remains top of the
G10 pile with gains of 0.42%, also a reminder of the large A$1.69bn option
expiry at $0.7300-05 for today's NY cut. 

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