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Scott Morrison to become Australian PM

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Australian Treasurer Scott Morrison is set to be the country’s next prime minister, after incumbent Malcolm Turnbull was ousted on Friday.

It came after Morrison won a three-way battle for the Liberal Party leadership. Other contenders included former Home Affairs Minister Peter Dutton and Foreign Minister Julie Bishop. Morrison won 45 votes to 40 at the leadership meeting, according to local media.

Turnbull did not contest for the vote after it became clear that he had lost the support of majority of his party members.

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
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