Australian government loses majority after High Court rules deputy prime minister ineligible

Stefan Postles | Getty Images

Australian politician Barnaby Joyce at Parliament House on June 1, 2015 in Canberra, Australia.

Australia’s High Court ruled Friday that Deputy Prime Minister Barnaby Joyce is ineligible to remain in parliament, a decision that has cost the coalition government its one-seat parliamentary majority.

Joyce was one of seven politicians whose eligibility to sit in parliament was thrown into doubt when it was found they were dual citizens, which bars them from being elected to the national parliament under Australia’s constitution.

The court ordered that a by-election must be held for Joyce’s electorate.

The Australian dollar fell a quarter of a U.S. cent after the court announced
its decision.

This is a breaking news story. Check back for updates.

—CNBC contributed to this report.