Liberal leadership: Australian dollar's Turnbull bounce hits wall
Jens MeyerMarkets and breaking news editor
Updated
A rally in the Australian dollar after Malcolm Turnbull was elected new leader of the Liberals didn't last, as the mood was soured by Reserve Bank of Australia minutes.
The Australian dollar rose to a two-week high of US71.66¢ on Tuesday morning, extending gains it had made the previous night after it became clear Mr Turnbull would succeed in ousting Tony Abbott as prime minister.
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