Dunaden has won the Melbourne Cup in perhaps the closest finish in the race’s history.

The French-trained Dunaden and English galloper Red Cadeaux settled in for a bitter war of attrition in the final 100 metres and only the bob of the heads gave Dunaden a margin on the line.

Lucas Cranach finished just over a length away in third with favourite Americain coming in fourth.

Winning jockey, Christophe Lemaire said it was still impossible to believe that he had won.