The pound is weak against the euro and the dollar this morning. Brexit worries and geopolitical tensions are still weighing on sterling. On Friday, Iran seized a UK tanker. Theresa May is chairing a security meeting this morning due to worries over the relationship between the two countries.
Voting will close today for Conservative Party members ahead of the announcement of our new Prime Minister, which will take place tomorrow. Theresa May is due to hand her resignation in on Wednesday, and her successor will then take office. It is still widely expected to be Boris Johnson. Philip Hammond has said that if Johnson does become Prime Minister, he will resign as Chancellor.
