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This morning, the Australian dollar recorded the weakest performance in the G10. The situation was caused by the resignations of three ministers, including Minister of Finance Mathias Cormann, the position of Prime Minister Turnbull becoming insecure. On Thursday, he said he would hold elections for the party chairman only if he receives a signed petition demonstrating that most of his party's members are no longer supporting him. The petition was sent, but the prime minister said a Friday meeting would be held to make a decision. Turnbull said his opponent, Peter Dutton, former interior minister, might not be able to take up a post in Parliament after mass media reported that he had violated constitutional restrictions on business investment his family. The current prime minister has already won such a vote this week, but Dutton does not seem to be beaten. After the resignations of the ministers, Dutton's chances seem to have grown. Because of political chaos, Prime Minister has decided to suspend the government until September 10, in order to resolve the crisis.
