The announcement should come around 1045 GMT
- GBP traders - The new UK Prime Minister will be announced Tuesday morning London time
- Reminder: New British prime minister set to be announced tomorrow
In case you missed the earlier reminders/previews above. As it stands, Boris Johnson remains the overwhelming favourite to come out victorious and I reckon to some extent that has been priced in already. However, I wouldn't rule out a minor move lower (and potentially with a correction higher after) in the pound on the announcement.
As for a Jeremy Hunt surprise victory, the pound will definitely have room to gain to the upside so be mindful of that.
Do also be reminded that the UK parliament will observe a recess period from 25 July to 3 September. So, if you're hoping for Brexit clarity soon after either Johnson or Hunt becomes prime minister, well you're just going to have to wait for a bit longer.
