GBP - New UK PM (to be) Johnson's first actions - tax cuts, big spending, borrow more

Boris Johnson will be announced as new UK PM Tuesday. At 1045GMT.

The UK Tele (gated) report one of BoJo's first moves will be a round of stimulus for the economy, including:

• tax breaks for those earning less than £80,000
• pause the current policy of bringing down the deficit, reversing tight controls on public spending imposed by current Chancellor Philip Hammond
• Will borrow to meet the new spending commitments

At the margin such moves from BJ are a positive input for GBP (in the short term at least … and disregarding all the other inputs (cough, Brexit ).