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Why the $A is diving
ANALYSIS: Ben Bernanke pushed the Aussie dollar over the edge but it was the gravity of low interest rates and falling commodity prices that pulled it down.
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Abbott praises Liberals' result in ACT
Federal Opposition Leader Tony Abbott has praised Canberra's Liberal leader Zed Seselja, saying the ACT election result is a magnificent performance.
Federal Opposition Leader Tony Abbott has paid tribute to Canberra's Liberal leader Zed Seselja after the party's strong performance in the ACT election.
There was a swing of 6.4 per cent to the Liberals in the ACT poll held on Saturday at which Labor was seeking a fourth term after 11 years in government.
The Greens, who also suffered a big swing away from them, are favoured to hold the balance of power in the new ACT assembly.
"It's very important today to congratulate Zed Seselja, the leader of the ACT Liberal Party, for their magnificent performance in the ACT yesterday," Mr Abbott told reporters in Sydney on Sunday.
"The Liberals are now the largest party in the ACT.
"People of the ACT and Canberra have decisively rejected the Greens and I think the people of Canberra don't want to see more Labor-Green coalition government."
Mr Abbott said Mr Seselja had a moral right to form government given the Liberals would hold the most seats in the new ACT parliament.
"He (Zed Seselja) has a moral claim on the chief ministership," Mr Abbott said.
"The largest party in assembly has a moral claim in the right to form government.
"A six per cent plus swing to the Liberal Party is a sign that the people of the ACT want change."
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