The Australian parliament has rejected the Governments' emission trading scheme and if the senate were also to reject it, that might see a general election called. This news was expected but nevertheless might be to blame for some AUD/JPY selling which has seen USD/JPY fall from 96.10 to 95.90 and AUD/USD from .8355 to .8340. Dealers say there are bids in USD/JPY at 95.70 which should contain any initial sell-off.
