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Boris Johnson Wins First Round of UK Leadership Contest by a Landslide, What Next?

Boris Johnson Wins First Round of UK Leadership Contest by a Landslide, What Next?

Justin McQueen, Strategist

GBPUSD Analysis and Talking Points:

  • Boris Johnson Wins by Landslide in First Round
  • Jeremy Hunt 2nd and Michael Gove 3rd

See our quarterly GBP forecast to learn what will drive prices through mid-year!

Who is Running to become the Next Prime Minister?

Boris Johnson Wins First Round of UK Leadership Contest by a Landslide, What Next?

Boris Johnson (114 Votes): Willing to renegotiate with the EU. Not looking to extend Article 50 and is ready to leave the EU on October 31st with or without a deal.

Jeremy Hunt (43 Votes): Willing to renegotiate with the EU. Would be open to extending Article 50 and is ready to leave the EU on October 31st if this is the only way to leave.

Michael Gove (37 Votes): Willing to renegotiate with the EU. Would be open to extending Article 50 and is ready to leave the EU on October 31st if this was the choice between no Brexit.

Dominic Raab (27 Votes): Willing to renegotiate with the EU. Would not be open to extending Article 50 and is ready to leave the EU on October 31st with or without a deal.

Sajid Javid (23 Votes): Willing to renegotiate with the EU. No looking to extend Article 50 and is ready to leave the EU on October 31st with or without a deal.

Matt Hancock (20 Votes): Willing to renegotiate with the EU. Would be open to extending Article 50 and is not ready to leave the EU on October 31st without a deal.

Rory Stewart (19 Votes): Not willing to renegotiate with the EU. Would be open to extending Article 50 and is not ready to leave the EU on October 31st without a deal.

Eliminated After First Ballot

Andrea Leadsom (11 Votes): Not willing to renegotiate with the EU. Would not be open to extending Article 50 and is ready to leave the EU on October 31st with or without a deal.

Mark Harper (10 Votes): Willing to renegotiate with the EU. Would be open to extending Article 50 and is ready to leave the EU on October 31st with or without a deal.

Esther McVey (9 Votes): Not willing to renegotiate with the EU unless a better offer had been made. Would not be open to extending Article 50 and is ready to leave the EU on October 31st with or without a deal.

Votes after First Ballot

Tory Leadership Contest Timeline

16th June: Channel 4 will host the first televised debate among the Tory candidates.

18th June: Second vote will take place where the threshold for progressing rises to 32 votes. The candidates will also be invited to a live debate on the BBC.

19-20th June: Up to four more rounds of voting will be held over the 2-days until there are just two remaining candidates left.

22nd June: The beginning of voting among the 160,000 Conservative members to decide who is the winner.

22nd July: The date at which the next PM is expected to be announced.

BREXIT RELATED ANALYSIS

GBP TRADING RESOURCES:

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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