Pound Supported by Boris Johnson's Exit: Rabobank's Foley

The transcript discusses the market's reaction to Boris Johnson's decision not to stand again, highlighting the preference for Rishi Sunak due to his familiarity with the markets. It notes the UK's weak economic fundamentals and the potential impact on sterling. The discussion also covers market assumptions about Sunak's fiscal policy and the likelihood of Jeremy Hunt remaining as Chancellor. Finally, it addresses the potential political uncertainty if both Sunak and Penny Morden are on the ballot, which could affect market stability.

What uncertainties could arise if both Penny Mordaunt and Rishi Sunak were on the ballot?

What factors could influence the potential rally of sterling if Rishi Sunak is assured as Prime Minister?