Published at 02:33 (GMT) 17 Jul
News.com.au: PM Tony Abbott's great big election promise to dump what he called the great big carbon tax was finally delivered this morning after a Government ordeal of frustration and embarrassment.
Negotiations with the Palmer United Party and other crossbench senators finally paid off for the Prime Minister with Labor's price on carbon emissions dismantled.
The Senate voted 39-32 to scrap Labor's carbon pricing scheme after securing the support of PUP senators and other crossbenchers. Subdued applause from government senators greeted the result as the Abbott government finally delivered on its key election promise.
On FX, victory for PM Abbott after the long drawn fight with the opposition and Greens party over the above. Eye any impact on government finances. Also carbon emissions.
AUD/USD at 0.9359-61, focus on the above and also RBA transaction data. Which saw RBA sold a huge net AUD1.271bln in FX in June, up from May's AUD489mln, the highest level in 3-years. Not surprised to hear more "mysterious", RBA commercial offers, selling on rallies in AUD. Offers at 0.9380-00 now.
Bids 0.9320-30, stops below. Key 0.9300. AUD/JPY at 95.05-10, offers at 95.30-50, bids at 94.80/94.50 for now. WL
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