Brexit-supporter Penny Mordaunt backs moderate Jeremy Hunt, raising his chances – GBP-positive

Defense Secretary Penny Mordaunt has showed up alongisde Foreign Secretary Jeremy Hunt at his launch event for the leadership of the Conservaitve Party.

Among the leading candidatesHunt is a moderate when it comes to Brexit and prefers not to stick to October 31st as an exit date, if necessary. Mordaunt has supported Brexit from the outset and is seen and has recently been promoted by outgoing PM Theresa May. 

Political analysts assess that having the support of a senior minister with Brexit credentials raises Hunt's chances. Hunt has also been endorsed by Pensions secretary Amber Rudd, a moderate.

Boris Johnson – Hunt's predecessor at the job – remains the leading candidate, but the boost from Mourdant raises the current foreign secretary's chances. If he becomes PM, he may lead the country towards a softer Brexit and GBP/USD may have room to rise.