UK's Boris Johnson and Rishi Sunak did not strike a deal this weekend. Johnson told his supporters this morning that he is the only candidate with a democratic mandate. Hesaid he wants to form a Government that will reach 'far and wide'.

Johnson says he hoped he, Sunak and Mordaunt could come together and unite but they have been unable to do so.

Johnson said he had the numbers (102). But he also said "you can't govern effectively unless you have a united party. 

This is a huge development and makes Rishi Sunak the firm favourite.

GBP/USD has gapped to a high of 1.1293 in the open.