He made the announcement in a statement outside Downing Street after the final result was announced.
David Cameron said a new Tory leader should be found by October Mirror
“I do not think it would be right for me to try to be the captain that steers the country to its next destination,” he added.
David Cameron outside Downing Street Mirror
The pound fell to its lowest level against the dollar since 1985 as the markets reacted to the results.