• The pound has halted its decline but remains near 31-year lows. (The Guardian has a helpful explanation of those lows.) One major fund manager has warned that if the British authorities do not get their act together, the pound could fall to parity with the dollar. British and Continental European stocks are higher, as are American stocks.

Your ‘Brexit’ Reading List

• Is Europe lacking in leadership? The Financial Times asks experts what traits the region’s leaders need. A commentator in The Daily Telegraph argues that Ms. May and Ms. Leadsom could put an end to the Conservative Party’s male domination, but another says Ms. Leadsom is not up to the task. My colleague Sarah Lyall notes that Britain’s politics have been dominated by elites feuding with, and plotting against, one another.

• The impact of “Brexit” may be felt for a long time, but in The Guardian, Simon Jenkins sees silver linings. One effect could be increased talk of “Frexit” (a French exit) or “Quitaly” (ditto for Italy), but in The New York Times Opinion pages, two writers argue that Britain is special. And while young people voted overwhelmingly to stay, one 20-something Financial Times journalist writes about how she was not one of them.

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