When article 50 is triggered this week

[not on facebook]

Will the value of the £  have a slight or major dip ,or will it get stronger .

[Glyn_Wigley]

I can't see it getting stronger. It might have a small dip because I think it took the major hit after the referendum result.

[German Rover]

It will almost certainly go down. Any change in the status quo and currency loses its value!

[Lipsy]

The damage has already been done. Given that we now telegraph these things to minimise the potential damage an announcement will make, I wouldn't be surprised if nothing much changes. In fact, the Government needs not much to happen given that most folk are quietly worrying about the future (and that's quite natural). However, as announcements are made beyond the Government's control (I would imagine Lloyd's of London, who are set to announce what their 'European' strategy (or the 'how it's going to move to an EU country as well as have a presence in London' strategy) very soon indeed) will start to impact Sterling depending on who announces what. If nothing else, expect volatility. Which is nice.

[Glyn_Wigley]

You can bet your life that financial companies like Lloyds that are going to restructure due to Brexit will also stitch up their tax returns a treat as well...

[not on facebook]

Reason why I ask is that I have a box full of Norwegian kr that has been sat waiting for the right time to change upto into pounds sterling.

I was back in the U.K. Last year and exchange rate was shocking in my favour.

So I hope the pound has a slight dip after acrticle fifty is set in process.

[Syme]

Can't recall where I was reading it but the other day I saw a piece about how undervalued the pound is. The market has reacted badly to Brexit over the last 9 months, but the medium to long term view was that the pound will comfortably regain it's losses.

Of course, it could all have been b*llocks.

[Muttley]

I wouldn't expect any change in the pound this week from the triggering of Article 50 as everyone knows it is going to happen  so the financial markets will have already priced it in

[ballysbackin]

I watched Martin Lewis last week speak on this subject and the money people just do not know what is going to happen and he says if they tell you they do they  are lying.  Seems good enough for me.

[Lipsy]

You can bet your life that financial companies like Lloyds that are going to restructure due to Brexit will also stitch up their tax returns a treat as well...

Absolutely agree. And more will follow, of course. Suspect they've all been politely asked to wait until Article 50 has been triggered before making any announcements... The shitshow is coming, that's for certain.

[Geoff Blakesley]

I agree. I just hope that those that voted brexit and unfortunately their children that didn't vote get hit the hardest !

[Muttley]

I watched Martin Lewis last week speak on this subject and the money people just do not know what is going to happen and he says if they tell you they do they  are lying.  Seems good enough for me.

They know that Article 50 will be triggered on Wednesday - the chances of it not happening are infinitesimally small.

After that, who knows what will happen to exchange rates.

[Lipsy]

I agree. I just hope that those that voted brexit and unfortunately their children that didn't vote get hit the hardest !

I totally disagree. I voted the way I did because I feared that the poorest in society would be hurt the most if we left the EU. I absolutely hope that I was wrong in my assumption...

[RedJ]

Nah we'll be fine. Nige said so.

[Dagenham Rover]

You can bet your life that financial companies like Lloyds that are going to restructure due to Brexit will also stitch up their tax returns a treat as well...

you mean the government owned ones and yes I know the government arent the largest shareholder in Lloyds now   well until recently

and as bally1950 said
I watched Martin Lewis last week speak on this subject and the money people just do not know what is going to happen and he says if they tell you they do they  are lying.  Seems good enough for me.

 and even you don't know Glyn even in your area of expertise 

[Lipsy]

Nah we'll be fine. Nige said so.

Nige says he'll emigrate if it all turns shite because we've chosen to leave the EU. So, it's not all bad news...

[Glyn_Wigley]

You can bet your life that financial companies like Lloyds that are going to restructure due to Brexit will also stitch up their tax returns a treat as well...

you mean the government owned ones and yes I know the government arent the largest shareholder in Lloyds now   well until recently

and as bally1950 said
I watched Martin Lewis last week speak on this subject and the money people just do not know what is going to happen and he says if they tell you they do they  are lying.  Seems good enough for me.

 and even you don't know Glyn even in your area of expertise 

I wasn't thinking about government-owend companies, more the multinational global companies who think nothing of shuffling their businesses around various territories to whatever advantages they can squeeze out of it.

As far as I can tell Martin Lewis was talking about exchange rates, I'm not.

I know big financial institutions can afford to pay loads of money to shit-hot tax avoidance experts. And they will.

[Muttley]

You can bet your life that financial companies like Lloyds that are going to restructure due to Brexit will also stitch up their tax returns a treat as well...

you mean the government owned ones and yes I know the government arent the largest shareholder in Lloyds now   well until recently

and as bally1950 said
I watched Martin Lewis last week speak on this subject and the money people just do not know what is going to happen and he says if they tell you they do they  are lying.  Seems good enough for me.

 and even you don't know Glyn even in your area of expertise 

I presume that Glyn was talking about Lloyd's (the insurance market which is "owned" by its underwriting members), rather than Lloyds (the bank which is owned by its shareholders including the UK gvnt)

[not on facebook]

So after going throu this thread ,I have X X X X amount of Norwegian kr that I have had for a just over a year now waiting to exchange to
£ £ £ .

Iam thinking about doing it a week after article has kicked in.would I be silly in doing so

[Glyn_Wigley]

You can bet your life that financial companies like Lloyds that are going to restructure due to Brexit will also stitch up their tax returns a treat as well...

you mean the government owned ones and yes I know the government arent the largest shareholder in Lloyds now   well until recently

and as bally1950 said
I watched Martin Lewis last week speak on this subject and the money people just do not know what is going to happen and he says if they tell you they do they  are lying.  Seems good enough for me.

 and even you don't know Glyn even in your area of expertise 

I presume that Glyn was talking about Lloyd's (the insurance market which is "owned" by its underwriting members), rather than Lloyds (the bank which is owned by its shareholders including the UK gvnt)

Banks can quite easily move various operating parts of their companies abroad whilst still leaving a high street presence here.

[Glyn_Wigley]

So after going throu this thread ,I have X X X X amount of Norwegian kr that I have had for a just over a year now waiting to exchange to
£ £ £ .

Iam thinking about doing it a week after article has kicked in.would I be silly in doing so

If you think the pound will do worse against the Euro than the Kr it might be worth converting to those first.

[not on facebook]

That's food for thought that mr Glynn .thanks a lot.

[DevilMayCry]

So after going throu this thread ,I have X X X X amount of Norwegian kr that I have had for a just over a year now waiting to exchange to
£ £ £ .

Iam thinking about doing it a week after article has kicked in.would I be silly in doing so

Deutsche Bank says that pound could fall as a low as $1.06 against the dollar by the end of this year, or another 15 per cent.

I still didn't bought £ because I think I can buy cheaper than is it today.

My opinion is that you should exchange it.

[One_Matty_Lucas]

Pound is only going south this year/the next, there can't be a better trade situation in 2019 than we have today. Will take more than 2 years to get deals in place with EU and non-EU (China, India, Australia etc.)

As a side point what are we going to sell to China?

[Syme]

https://www.gov.uk/guidance/exporting-to-china#industries-importing-into-china

[Not Now Kato]

I agree. I just hope that those that voted brexit and unfortunately their children that didn't vote get hit the hardest !

I totally disagree. I voted the way I did because I feared that the poorest in society would be hurt the most if we left the EU. I absolutely hope that I was wrong in my assumption...

Sadly, I think you, I and others who thought that way, will be right. Certainly in the short to medium term - if not longer.

[One_Matty_Lucas]

https://www.gov.uk/guidance/exporting-to-china#industries-importing-into-china

Fair enough, we will be much better without EU. China cant get enough of British electrical machinery...British cars....

[Syme]

Well done for avoiding the British slags opportunity.

[Lipsy]

Well, at least we'll still have our sense of humour. Maybe we can export that...

[Glyn_Wigley]

https://www.gov.uk/guidance/exporting-to-china#industries-importing-into-china

Fair enough, we will be much better without EU. China cant get enough of British electrical machinery...British cars....

Why will we be better without the EU? Leaving the EU doesn't change anything regarding exporting to China.