UK: Overwhelming support for Boris Johnson – Deutsche Bank

Sandeep Kanihama FXStreet Contributor

Deutsche Bank analysts note that in the UK, we did have the first Conservative Party leadership contest which revealed overwhelming support for Boris Johnson in his bid to become the next PM.

Key Quotes

“He took 114 votes with Jeremy Hunt a reasonable way back in second place at 43 votes. Gove, Raab, Javid, Hancock and Stewart all made it through to the next round which is due to take place next Tuesday, and where candidates will need to secure 33 votes (10% of the total). Brexiteers Leadsom and McVey were eliminated yesterday along with Harper.”

“The BBC’s political editor Laura Kuenssberg tweeted last night that Health Secretary Hancock was “mulling over” whether to continue in the race, having come in 6th place with 20 votes. It’s clear from the first round that Johnson is the clear frontrunner and although history tells you frontrunners often don’t win the Tory leadership race it’s hard to see him being toppled outside of an “event” that derails his campaign.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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