Rishi Sunak remained tight-lipped when leaving his office in London earlier, continuing to steer clear of commenting on the leadership contest.

Momentum has been growing behind the former chancellor's campaign this morning, with several former and current ministers among the 185 MPs who have publicly backed him.

Meanwhile, his rival Penny Mordaunt has been busy trying to bolster her current endorsement count, which is currently understood to be 26 MPs.

It's been reported her team have been busy overnight and today trying to get the pledges of Boris Johnson supporters, after he dropped out of the race yesterday.

Mordaunt is less tight-lipped

On Monday morning, sterling stood around 0.4% higher, at $1.1, after Rishi Sunak emerged as the favourite to become the new prime minister.

Meanwhile, government borrowing costs dropped as the markets opened after the weekend.

You can read more about how the markets are reacting and why, here

Your views: 'We need a general election' and 'get on with it'

Many of you reading every twist and turn on this page have been sending in your comments this morning, as Rishi Sunak and Penny Mordaunt enter the final stretch of the Tory leadership contest before nominations close.

Here's some of what you've been saying:

Quote Message: Sunak coronation smells of a stitch up if there is no election and run off with Mordaunt... Every time they have done it they have been punished at the polls." from Riz Mirza

Sunak coronation smells of a stitch up if there is no election and run off with Mordaunt... Every time they have done it they have been punished at the polls."

Riz Mirza

Quote Message: You have to ask why Tory MPs find it necessary to make unhelpful comments at this time. They should all get behind Rishi and stop bickering. I’ve been a Tory voter for 40 years, Liz Truss brought this into doubt. I am behind Rishi and would like to see the party do the same and stop having their moment on Twitter to moan. Get on with your job like the rest of us have to." from Louise Ziad

You have to ask why Tory MPs find it necessary to make unhelpful comments at this time. They should all get behind Rishi and stop bickering. I’ve been a Tory voter for 40 years, Liz Truss brought this into doubt. I am behind Rishi and would like to see the party do the same and stop having their moment on Twitter to moan. Get on with your job like the rest of us have to."

Louise Ziad

Quote Message: Very few of the Conservative Party general membership will have had the experience of hearing any of the candidates in The House; in Cabinet; in COBRA; in day to day ministerial meetings. The most they may have done (again, only a few) is to hear them at a party conference. They are therefore no more qualified to contribute to the selection of the next PM as any of the public. In fact, the rival political MPs are better qualified! Logically, therefore, it should be left to the Conservative MPs only or (heaven forbid) a general election." from Clive Acres

Very few of the Conservative Party general membership will have had the experience of hearing any of the candidates in The House; in Cabinet; in COBRA; in day to day ministerial meetings. The most they may have done (again, only a few) is to hear them at a party conference. They are therefore no more qualified to contribute to the selection of the next PM as any of the public. In fact, the rival political MPs are better qualified! Logically, therefore, it should be left to the Conservative MPs only or (heaven forbid) a general election."

Clive Acres

Quote Message: We do not need an election at this time. It will only lead to a hung parliament and an inability to get things done. The Labour leader, if he really was a leader, would be concentrating on ending the strikes that are crippling our economy." from Jackie Osborne

We do not need an election at this time. It will only lead to a hung parliament and an inability to get things done. The Labour leader, if he really was a leader, would be concentrating on ending the strikes that are crippling our economy."

Jackie Osborne

Quote Message: How anyone can take Boris's speech [seriously] beggars belief! What disingenuous deluded twaddle, basically "I nobly sacrifice my ambition on the sword of unity, such a martyr I am, go forth and prosper dear citizens..." Well something like that... He's just trying to rewrite his own pseudo history." from T Burt

How anyone can take Boris's speech [seriously] beggars belief! What disingenuous deluded twaddle, basically "I nobly sacrifice my ambition on the sword of unity, such a martyr I am, go forth and prosper dear citizens..." Well something like that... He's just trying to rewrite his own pseudo history."