Mubasher: Boris Johnson was elected as the new leader of the UK’s ruling Conservative Party, and presumptive the nation’s Prime Minister.

The former mayor of London, and one of the hardline advocates for Brexit, triumphed over his rival Foreign Secretary Jeremy Hunt by 92,153 votes to 46,656.

As the leader of the biggest party in the UK parliament, Johnson will be invited by the queen to form a government on Wednesday, after the formal resignation of Premier Theresa May.

Johnson’s victory concluded a month-long runoff against Hunt, who supported the Remain campaign at the 2016 referendum, but later backed the UK’s departure from the European Union (EU).

The majority of Conservative members are for pro-Brexit, and Johnson’s commitment to exit the bloc with or without a transition agreement on 31 October was decisive for his victory.

By 11:30 am GMT, the sterling pound slightly gained against the US dollar, with the GBP/USD pair inching up by 0.02% to $1.2478.