Market turmoil: Osborne said all the right things, but relief will be temporary

Of course the chancellor had to row back on his dire pre-referendum warnings, but - for households, businesses and investors - we are in uncharted territory

George Osborne had one job to do on Monday morning: calm panicking financial markets after Britain's momentous vote to leave the EU last week.

With the pound falling sharply again overnight, it was a tall order, especially for the man who just days ago was spearheading "project fear".

Related: Pound hit again by Brexit crisis - business live