Referendum - Leave likely to win - GBP Down

David · Post by **David** » Sat 25 Jun 2016 10:35 am

Against the £

Geoff1131 · Post by **Geoff1131** » Sat 25 Jun 2016 12:11 pm

waz, I have tried to explain on the other thread what my feelings are about another Scottish independence vote. I have no problem with any region wanting and voting to leave the union. What I think is detestable is the fact that Mrs Sturgeon campaigned with real enthusiasm for the ' remain ' camp
And as soon as the result was known then started to ask for another independence vote. If she had any morals at all she would have refused to take part in the referendum and advised all her countrymen to ignore the vote also. Then I would have had a degree of sympathy for her and the rest of the Scottish people. But to take part, lose, and then try to argue for another vote is despicable in the extreme.

waddo · Post by **waddo** » Sat 25 Jun 2016 12:29 pm

TL remains unchanged? Unchanged from when I last changed my sterling on the 23rd at 4.24 or unchanged right now a 4.005? Confused by your comment or is it the BBC that is confused?

waz-24-7 · Post by **waz-24-7** » Sat 25 Jun 2016 12:49 pm

Geoff1131 wrote:waz, I have tried to explain on the other thread what my feelings are about another Scottish independence vote. I have no problem with any region wanting and voting to leave the union. What I think is detestable is the fact that Mrs Sturgeon campaigned with real enthusiasm for the ' remain ' camp
And as soon as the result was known then started to ask for another independence vote. If she had any morals at all she would have refused to take part in the referendum and advised all her countrymen to ignore the vote also. Then I would have had a degree of sympathy for her and the rest of the Scottish people. But to take part, lose, and then try to argue for another vote is despicable in the extreme.

Geoff
I am afraid that is politics.
I listened to Boris this morning preaching how close we will be to our European partners. Just after he has started divorce proceedings!!
Interesting to note also in the exit numbers. Younger generation were decidedly In. Retired and out of work were BREXIT. I expected this given the rhetoric of the good old days. Younger people are definitely more willing to tolerate and integrate. It is the Youngsters that will be most hit as they seek to secure their futures and their prosperity

The developing possible break up of the UK is just another threat and risk to the whole of the Country.
The Uk will never be the same again.

Geoff1131 · Post by **Geoff1131** » Sat 25 Jun 2016 2:08 pm

waz, the UK will never be the same again.

I do hope you are right, that is why I voted to leave.

And as for the younger generation, the last referendum vote in the 70's I was the younger generation then and I voted out , it must have been my elders who voted for us to stay in. The "ooops"!!!!!!.

waz-24-7 · Post by **waz-24-7** » Sat 25 Jun 2016 4:31 pm

Geoff1131 wrote:waz, the UK will never be the same again.

I do hope you are right, that is why I voted to leave.

And as for the younger generation, the last referendum vote in the 70's I was the younger generation then and I voted out , it must have been my elders who voted for us to stay in. The ooops!!!!!!.

Geoff
Sorry to hear that in the 70's you were possibly wronged.
I am afraid looking backwards is not going to solve modern day issues. That is very clear but exit results showed that pensioners and the non working population were by enlarge responsible for the BREXIT. Clinging onto history I think. No use in regret now
We are where we are.
You will , I am sure. like us all, be feeling the pain and damage already as the pound in your pocket slips away and pensions and investment decline.

mickhm · Post by **mickhm** » Sat 25 Jun 2016 7:10 pm

Pain! what pain I have UK and TRNC bank accounts. Mt pension is paid into the UK bank and I draw out what I need. I am really suffering that when I change my £1000 sterling I get 25lira less than I did last time I will have to stop using the car. Your doom and gloom makes me laugh Sure there will be a dip but it will recover. Have a beer and rejoice for democracy

David · Post by **David** » Sat 25 Jun 2016 7:16 pm

The doom and gloom merchants are scaremongering, no reason why we cannot go on to be a better and more prosperous nation,

lee666 · Post by **lee666** » Sat 25 Jun 2016 7:33 pm

mickhm

Love it !!

turtle · Post by **turtle** » Sat 25 Jun 2016 7:48 pm

waz-24-7 wrote:
Geoff1131 wrote:waz, I have tried to explain on the other thread what my feelings are about another Scottish independence vote. I have no problem with any region wanting and voting to leave the union. What I think is detestable is the fact that Mrs Sturgeon campaigned with real enthusiasm for the ' remain ' camp
And as soon as the result was known then started to ask for another independence vote. If she had any morals at all she would have refused to take part in the referendum and advised all her countrymen to ignore the vote also. Then I would have had a degree of sympathy for her and the rest of the Scottish people. But to take part, lose, and then try to argue for another vote is despicable in the extreme.

Geoff
I am afraid that is politics.
I listened to Boris this morning preaching how close we will be to our European partners. Just after he has started divorce proceedings!!
Interesting to note also in the exit numbers. Younger generation were decidedly In. Retired and out of work were BREXIT. I expected this given the rhetoric of the good old days. Younger people are definitely more willing to tolerate and integrate. It is the Youngsters that will be most hit as they seek to secure their futures and their prosperity

The developing possible break up of the UK is just another threat and risk to the whole of the Country.

I am neither unemployed nor am I old and neither are millions of people that voted out......Waz a point of order please.

waz-24-7 · Post by **waz-24-7** » Sat 25 Jun 2016 9:18 pm

Turtle
Clearly not directed at your good self.
The facts is however that the majority of LEAVE voters were persons without work OR pensioners. These groups are less vulnerable to the economic consequences and are destined to lose less financially.
Would I be correct that you are in the without work group? perhaps early retired.? Absolutely no offence in those questions please.

Geoff1131 · Post by **Geoff1131** » Sat 25 Jun 2016 9:33 pm

waz, you can keep going on about how much mortal danger the country is now in and tell us all we are going to be destitute because the MAJORITY of voters in the referendum had the temerity to vote against your wishes. But the fact remains that the vote was to leave the EU.

I don't think I need to say any more than that really.

lee666 · Post by **lee666** » Sat 25 Jun 2016 9:44 pm

waz

Democracy reigned, you are obviously finding this hard to swallow. Why, I'm not quite sure

Whether the people who voted to Leave are out of work or pensioners is neither here nor there, the have a democratic right to vote as does every UK citizen.

My great grandfather, grandfather & father fought in wars to keep my country free & democratic. To blame any of them for the Leave win in my opinion is pretty low. They have earned the right, probably more than you or I.

There has been a result, a fair & legitimate result. Right or wrong we have to move forward on that result and make our country a leader again.

waz-24-7 · Post by **waz-24-7** » Sat 25 Jun 2016 10:22 pm

Geoff1131 wrote:waz, you can keep going on about how much mortal danger the country is now in and tell us all we are going to be destitute because the MAJORITY of voters in the referendum had the temerity to vote against your wishes. But the fact remains that the vote was to leave the EU.

I don't think I need to say any more than that really.

Geoff,
We are leaving the EU. That is accepted. Are we quite clear upon that?

The debate now is focused upon post BREXIT. The clear indication is that expert predictions of economic decline are proving correct. It is sad that many either failed to, or chose not to listen to the experts. or leaders. What is just as sad is it now transpires that the UK is possibly going to break up as Scotland and N Ireland seek to be IN the EU rather than OUT.

I think that many people of the UK have indeed made a grave error of judgment and inflicted damage to the Uk in general.
Democracy has prevailed but Democracy is now biting back in the from of a democratic break up of the United Kingdom.
A sad time certainly.

lee666 · Post by **lee666** » Sat 25 Jun 2016 10:32 pm

waz

I agree with you at last, the result we know. The future we do not know but the same people who thought it would be a Remain victory and now predicting the demise of our great country.

I will sit on the other side of the fence and say we WILL move forward eventually. Aston Martin have confirmed today that they will still be building a new £200m plant in Wales.

USA, Canada , New Zealand & Germany have said the want trade deals. We will have trade deals with Switzerland, Norway & Iceland.

So really it's not all doom & gloom is it ??

elizabeth · Post by **elizabeth** » Sat 25 Jun 2016 10:38 pm

Boeing picks Britain as the base for all European operations, so it's not all bad Waz.

turtle · Post by **turtle** » Sat 25 Jun 2016 10:45 pm

Waz
Sorry but you are talking rubbish...
The middle section of the country ages 35 to 54 voted 52% to leave hardly old or not working ?

waz-24-7 · Post by **waz-24-7** » Sat 25 Jun 2016 10:52 pm

lee666 wrote:waz

I agree with you at last, the result we know. The future we do not know but the same people who thought it would be a Remain victory and now predicting the demise of our great country.

I will sit on the other side of the fence and say we WILL move forward eventually. Aston Martin have confirmed today that they will still be building a new £200m plant in Wales.

USA, Canada , New Zealand & Germany have said the want trade deals. We will have trade deals with Switzerland, Norway & Iceland.

So really it's not all doom & gloom is it ??

Lee
No not all doom and gloom.
I have always said that the UK will survive upon a BREXIT. Survival however,is very different to prosperity. The recovery from the recession of 2008 had just started to return some growth to the UK economy. This has most certainly now been squandered. I asked that people assess the cost of a BREXIT.
The economic cost has been commentated by experts, leaders and myself. Advice went unheeded and I an afraid the cost will now become apparent as the next weeks and months unfold.
Certainly Aston martin are building in Wales and Jaguar are enlarging their Engine plant in Wolverhampton. These projects were started some time ago.
The desire for trade deals is great news but these will take time and Markets will not wait for a recovery. The UK is engulfed in uncertainty and a road map for BREXIT is not even agreed. I would say that by Christmas the true economic picture should be more clear. Until then I expect volatility and some bad news on investment and jobs as the gateway to the EU market sways in the wind of change.

elizabeth · Post by **elizabeth** » Sun 26 Jun 2016 9:45 am

We are still Great !!

Great Britain - Brexit
June 24 at 10:20pm ·
A Prime Minister resigned. The £ plummeted. The FTSE 100 lost significant ground. But then the £ rallied past February levels, and the FTSE closed on a weekly high: 2.4% up on last Friday, its best performance in 4 months. President Obama decided we wouldn't be at the 'back of the queue' after all and that our 'special relationship' was still strong. The French President confirmed the Le Touquet agreement would stay in place. The President of the European Commission stated Brexit negations would be 'orderly' and stressed the UK would continue to be a 'close partner' of the EU. A big bank denied reports it would shift 2,000 staff overseas. The CBI, vehemently anti-Brexit during the referendum campaign, stated British business was resilient and would adapt. Several countries outside the EU stated they wished to begin bi-lateral trade talks with the UK immediately. If this was the predicted apocalypse, well, it was a very British one. It was all over by teatime. Not a bad first day of freedom.

waz-24-7 · Post by **waz-24-7** » Sun 26 Jun 2016 10:05 am

elizabeth wrote:We are still Great !!

Great Britain - Brexit
June 24 at 10:20pm ·
A Prime Minister resigned. The £ plummeted. The FTSE 100 lost significant ground. But then the £ rallied past February levels, and the FTSE closed on a weekly high: 2.4% up on last Friday, its best performance in 4 months. President Obama decided we wouldn't be at the 'back of the queue' after all and that our 'special relationship' was still strong. The French President confirmed the Le Touquet agreement would stay in place. The President of the European Commission stated Brexit negations would be 'orderly' and stressed the UK would continue to be a 'close partner' of the EU. A big bank denied reports it would shift 2,000 staff overseas. The CBI, vehemently anti-Brexit during the referendum campaign, stated British business was resilient and would adapt. Several countries outside the EU stated they wished to begin bi-lateral trade talks with the UK immediately. If this was the predicted apocalypse, well, it was a very British one. It was all over by teatime. Not a bad first day of freedom.

Elizabeth,
Believe me. I do hope it is milk and honey as you imply.
I think the next big risk is the break up of the UNITED KiINGDOM based on the fact Scotland and N Ireland want to REMAIN in EU.
I Think by Christmas the true picture will emerge,
The first response of Markets is critical and was predicted as sterling has crashed. Subsequent rallies are always expected as carpet baggers take advantage.
As a working person residing in the UK . I detect a sombre mood after BREXIT and now the break up of the UK, but if you are right then I will be very happy to eat humble pie.
I fear that if you are wrong then humble pie will be no consolation.

Geoff1131 · Post by **Geoff1131** » Sun 26 Jun 2016 10:12 am

Good post Elizabeth. Factual information of what actually happened as opposed to what all the experts predicted 'would happen'

I don't know about others but I am now getting sick of all the debate post Brexit.

waz you have stated, that by Christmas the true cost of leaving the EU will become apparent. Why don't you just stop these, what are now looking like desperate and tiresome statements aimed at trying to again make the 'experts' and indeed your own comments seem to be correct.

At Christmas, if the UK population is running around in sack cloth because they cannot afford to buy clothes, and they are getting around the UK on horse and cart transport because they cannot afford petrol for their cars. Or the people of the UK are in ANY meaningful way worse off being out of the EU. Then I will be the first to say SORRY waz I WAS WRONG. But until then I do not intend to post again on this subject as quite frankly I am getting more than a little bored with it.

David · Post by **David** » Sun 26 Jun 2016 10:31 am

Geoff 1131
Here Here ....

elizabeth · Post by **elizabeth** » Sun 26 Jun 2016 10:33 am

I've said all I have to say now too, ,sorry Was but you are getting very boring now so we'll just have to suck it and see.

waz-24-7 · Post by **waz-24-7** » Sun 26 Jun 2016 10:39 am

Geoff
OK to an extent I agree. However, the predicted initial shock that was predicted has rang true and yet many still appear to think that BREXIT is good.
There is a very real and Sombre mood in the UK as the very structure of the UK is under threat. This is fact and not scaremongering.
I am afraid that "sorry" will carry no credence with me. This is potential irreversible damage.This was always a critical one time decision and so many have failed to take heed of experts , leaders and professionals.
Shame on those who have inflicted this upon us. I will certainly say sorry if I am wrong. I do hope I will.
Geoff
OK to an extent I agree. However, the predicted initial shock that was predicted has rang true and yet many still appear to think that BREXIT is good.
There is a very real and Sombre mood in the UK as the very structure of the UK is under threat. This is fact and not scaremongering.
I am afraid that "sorry" will carry no credence with me. This is potential irreversible damage. This was always a critical one time decision and so many have failed to take heed of experts , leaders and professionals.
Shame on those who have inflicted this upon us. I will certainly say sorry if I am wrong. I do hope I will.

David · Post by **David** » Sun 26 Jun 2016 10:55 am

No sombre mood here at all Was, far from it looking forward to a better future for Britain now that we are free from the eu restrictions other countries will be lining up to trade with us. Onwards and very much upwards.

turtle · Post by **turtle** » Sun 26 Jun 2016 10:59 am

Waz
There may be a sombre and down in the dumps mood in the circles you operate but I can tell you for sure in my circles there is jubilation and optimism and people can't wait to get on with it.

By the way Boeing has just announced it will continue with its plans to locate in the UK and Morgan Stanley announce they are staying.

waz-24-7 · Post by **waz-24-7** » Sun 26 Jun 2016 11:04 am

David wrote:No sombre mood here at all Was, far from it looking forward to a better future for Britain now that we are free from the eu restrictions other countries will be lining up to trade with us. Onwards and very much upwards.

David,
I do hope that you are right and the future is indeed better than now. Please do not ignore the clear writing on the economic wall and the now threat to the break up of the United Kingdom. A sombre prospect certainly. BREXIT camp. I expect you to deliver given you have already instigated a sterling crash and market exodus.

JBA · Post by **JBA** » Sun 26 Jun 2016 2:42 pm

Waz-27-7.

Try to understand that Northern Ireland would never vote to leave the UK. The Republic, who very much want a united Ireland would have no say - only registered voters in the North. The majority are Protestant and would never contemplate being ruled by the Catholic South - what do you think has been the cause of so much conflict in NI for the last 50 years.

So much as they might prefer to be in the EU, they prefer to be in the UK more.

Scotland I grant you is a different matter - but then I think they would go in time anyway and Brexit will probably do nothing other than vary the timescale.

turtle · Post by **turtle** » Sun 26 Jun 2016 3:43 pm

Same as with Scotland.

I read today that they would have to apply to join the EU from scratch and from what I hear they are not in good shape as an economy plus the fact they would have to join the Euro...the little poisoned dwarf can spout as much as she wants but Scotland is going nowhere

waz-24-7 · Post by **waz-24-7** » Sun 26 Jun 2016 7:38 pm

turtle wrote:Same as with Scotland.

I read today that they would have to apply to join the EU from scratch and from what I hear they are not in good shape as an economy plus the fact they would have to join the Euro...the little poisoned dwarf can spout as much as she wants but Scotland is going nowhere

Nicola Sturgeon has had this on the agenda for some time. A second referendum. Who would think it. Is it at all possible for BREXIT too?
Scotland is very much poorer since the last attempt to leave the EU because of the decline in oil prices.
Whilst another Scottish referendum is possible. I do not think the result would go in Ms Sturgeons way. Of course Scotland took (in my view) the right decision in wanting to REMAIN in the EU. They will need to apply and would also need to adopt the Euro. Some time away I think.

The worst thing about it all is that the UK will suffer even more as the uncertainty deepens even more.

David · Post by **David** » Mon 27 Jun 2016 12:14 pm

Looking on the bbc teletext at the tourist rates it shows that the £ against the TL has remained the same since thursday at 3.89 to £ whilst all other currencies are down typically 6,7,8% i wonder why this is ?

Keithcaley · Post by **Keithcaley** » Mon 27 Jun 2016 12:20 pm

David wrote:Looking on the bbc teletext at the tourist rates it shows that the £ against the TL has remained the same since thursday at 3.89 to £ whilst all other currencies are down typically 6,7,8% i wonder why this is ?

David, do you mean that you get 6,7, or 8% less of those 'other currencies' for each Pound Sterling? - in other words - is the value of those currencies UP relative to sterling?

The pound does actually seem to be still falling relative to the Turkish Lira, see attachment: -

David · Post by **David** » Mon 27 Jun 2016 12:44 pm

Keith
Yes thats what i mean i know its not exact as the rate differs slightly but i use it as a guide, it shows all other currencies have dropped, so less money for your £ but Tl showing a 0.0% change since thursday

waz-24-7 · Post by **waz-24-7** » Mon 27 Jun 2016 1:27 pm

David wrote:Keith
Yes thats what i mean i know its not exact as the rate differs slightly but i use it as a guide, it shows all other currencies have dropped, so less money for your £ but Tl showing a 0.0% change since thursday

Turkish lira is expected to strengthen on the back of a £ sterling decline.
Sterling is the weak link here.
Sterling against US$ is down further to $1.32 ...lowest now since 1992.

Gold is proving the safe haven and is likely to remain so for some time.

The drive down on sterling will to and fro somewhat as hedge investors and carpet baggers take advantage.
Ultimately the £ buys less goods, fuel, currency etc.
I am afraid its pay back time for some time to come.
Buy gold and ditch currencies for at least the next 3 months is my advice.

David · Post by **David** » Mon 27 Jun 2016 1:40 pm

Why would the TL strengthen ?

waz-24-7 · Post by **waz-24-7** » Mon 27 Jun 2016 2:25 pm

David wrote:Why would the TL strengthen ?

David as sterling weakens other currencies become stronger against them.

For example sterling has mow hit a 20 year low. Consequently it will buy less $US, less tl, less almost all currencies of worth.
The hit is what your £ is able to buy as opposed to say last Tuesday.
Less petrol , less food, less luxuries and of course less Turkish Lira.

The next thing to watch as a prediction is interest rates as the pound sinks the Bank of England may see fit to devalue the currency to avoid inflationary pressure.
If you have investment potential. Buy gold. Always safe haven when currencies collapse. It is low with most currencies at the moment but I see a rise by end of next week certainly.

lee666 · Post by **lee666** » Mon 27 Jun 2016 4:00 pm

Sorry, just made me laugh !!

David · Post by **David** » Mon 27 Jun 2016 5:02 pm

Waz
Yes your £ buys less of all other countries currency but not TL or sri lankian rupee for some reason, every other currency has been affected but the TL v £ has remained unchanged.

David · Post by **David** » Mon 27 Jun 2016 5:12 pm

Correction ....
Out of the 31 currencies on show all show big drops apart from indian, pakistan and sri lankan ruppee ....... and the TL

Mowgli597 · Post by **Mowgli597** » Mon 27 Jun 2016 5:18 pm

David wrote:Waz
Yes your £ buys less of all other countries currency but not TL or sri lankian rupee for some reason, every other currency has been affected but the TL v £ has remained unchanged.

Not according to XE.com - currency exchange app.

At 05.00 on 22nd June 2016: £1 = TL4.2793

The current (19:00 27th June 2016) rate : £1 = TL3.8785

Keithcaley · Post by **Keithcaley** » Mon 27 Jun 2016 5:21 pm

David wrote:...the TL v £ has remained unchanged.

The Pound Sterling has fallen against the Turkish Lira, and continues to fall against the Turkish Lira.

See post 44

waz-24-7 · Post by **waz-24-7** » Mon 27 Jun 2016 5:36 pm

Keithcaley wrote:
David wrote:...the TL v £ has remained unchanged.
The Pound Sterling has fallen against the Turkish Lira, and continues to fall against the Turkish Lira.

See post 44

Thank you Keith,
I am amazed how some cannot identify a drop in currency value.
Your posts and debate is appreciated.

Mowgli597 · Post by **Mowgli597** » Mon 27 Jun 2016 5:40 pm

David wrote:No sombre mood here at all Was, far from it looking forward to a better future for Britain now that we are free from the eu restrictions other countries will be lining up to trade with us. Onwards and very much upwards.

Sorry - is it upwards that the £ / TL rate has gone. Ah no. It's downwards. No it isn't. It's upwards. Oh I'm so confused. Maybe it's sideways. No it's forwards.
Got it. It's unchanged

David · Post by **David** » Mon 27 Jun 2016 5:41 pm

Ok thanks, i am just going by the bbc tourist rates on their business news page they showed it at 3.89 on thursday afternoon and the same on friday and today,... no sweat.

Mowgli597 · Post by **Mowgli597** » Mon 27 Jun 2016 5:45 pm

David wrote:Ok thanks, i am just going by the bbc tourist rates on their business news page they showed it at 3.89 on thursday afternoon and the same on friday and today,... no sweat.

No sweat? Ah just another little "error".

Like this one?

Asked by ITV's Good Morning Britain whether he could guarantee that the £350m that was sent to the EU would now go the NHS, Mr Farage said: “No I can’t, I would never have made that claim.

"That was one of the mistakes made by the Leave campaign.”

David · Post by **David** » Mon 27 Jun 2016 6:13 pm

Mowgli
Not an "error" at all just stating the facts according to the bbc business page and the tourist rates it shows, shows the same figure today as it did on thursday and friday ... easy for you to check if you think i have made an "error" ..will check on it again tomorrow.

Keithcaley · Post by **Keithcaley** » Mon 27 Jun 2016 6:38 pm

Mowgli,

It's rather unfair to blame David for something that Farage may or may not have said!

The BBC site seems to have finally caught up, with the Pound Sterling showing a dive against the Turkish Lira - see attachment below...

David · Post by **David** » Mon 27 Jun 2016 7:17 pm

Keith
I am only going by the bbc telext service i just click on news index, business and markets, currencies, then tourist rates use it as a rough guide as i know if it says 3.9 then in NC it will be 4.1. Anyway whats the problem with everyone ?
We have a strong economy
We have a thriving country
We can look forward to less bureaucracy and interference from outside
We will soon be allowed to control how many migrants enter the country
Countries queuing up to trade with us
Who could moan about that, ... seems like a win win situation
Who could moan at that .... seems like a win win situation

Keithcaley · Post by **Keithcaley** » Mon 27 Jun 2016 7:35 pm

Hi David, I'm not criticising or supporting either 'side' in this, I've just been trying to keep the comments from both sides understandable and up-to-date whenever I happened to read something that didn't 'add up' - and I've not read all of it, by any means...

It looks as though the BBC website was lagging a bit behind the other Finance sites, that's all - well, that's what it looks like to me, anyway!

Personally, I think that whatever happens from now on is well out of 'our' hands - except for those few who are actively involved in negotiation, etc, so all I can do is sit on the sidelines and watch...

...and chuck in the odd comment, of course, as is my wont

Mowgli597 · Post by **Mowgli597** » Mon 27 Jun 2016 7:53 pm

David wrote:Keith
We have a strong economy
We have a thriving country
We can look forward to less bureaucracy and interference from outside
We will soon be allowed to control how many migrants enter the country
Countries queuing up to trade with us
Who could moan about that, ... seems like a win win situation

David
May I suggest a look at a different area of the BBC website (other than the exchange rates)?
The BBC news:

David wrote:We have a strong economy

UK loses top credit rating
"The UK has lost its top AAA credit rating from ratings agency S&P following the country's vote to leave the EU.
S&P said the the referendum result could lead to "a deterioration of the UK's economic performance, including its large financial services sector".
Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day.
On Friday, Moody's cut the UK's credit rating outlook to negative."

David wrote:Countries queuing up to trade with us

Five models for post-Brexit UK trade:
"After the UK voted to leave the EU, the country faces the prospect of having to establish new trade relationships - both with the remaining 27 EU members and other countries around the world.
As a member of the EU, the UK has been included in trade deals the EU has negotiated. There are 22 trade agreements between the EU and individual countries, and five multi-lateral agreements covering multiple countries.
This means that if the UK wants to retain preferential access to the markets of the 52 countries covered by these agreements, it would have to renegotiate trade deals with all of them."

David wrote:We can look forward to less bureaucracy and interference from outside
We will soon be allowed to control how many migrants enter the country

From the same link above:

The Norway model
"Member of European Economic Area, full access to single market, obliged to make a financial contribution and accept majority of EU laws, free movement applies as it does in the EU
Norway is a member of the European Economic Area (EEA) - the single market - along with the 28 current EU members, Liechtenstein and Iceland.
In return for that access to the single market, it pays a contribution to the EU budget and has to sign up to all the rules of the club - including its common regulations and standards.
People from across the EU are free to live and work in Norway too, but the country is exempt from EU rules on agriculture, fisheries, justice and home affairs. The downside for Norway is that it has no say over how the rules of the single market are created."

The Switzerland model
Member of the European Free Trade Association but not the EEA, access to EU market governed by series of bilateral agreements, covers some but not all areas of trade, also makes a financial contribution but smaller than Norway's, doesn't have a general duty to apply EU laws but does have to implement some EU regulations to enable trade, free movement applies
Switzerland has a free trade agreement with the EU and a number of agreements which give it access to the single market for most of its industries.
But it does not have full access to the single market for its banking sector and other parts of the services sector, which together make up almost 80% of the UK economy.
Its agreement also requires the free movement of people.
The Swiss voted against joining the EEA in December 1992.
Instead, the country, which sells over 50% of its exports to the EU, has agreed more than 120 bilateral agreements with Brussels, designed to secure Swiss access to Europe's markets.
Switzerland contributes billions of dollars to EU projects. Its bilateral deals are now in danger of unravelling over the question of free movement of people, after a referendum two years ago went in favour of restricting the number of workers arriving from the EU.
While no such restriction has yet been implemented, Brussels retaliated swiftly, stalling agreements and freezing participation in education projects.

or
The Turkey model
The Canada option
The Singapore and Hong Kong approach
The default: World Trade Organisation rules

I'd also recommend:
Reality Check: Free trade free from regulation?
In summary: Reality Check verdict: Full access with no regulation may be Mr Gove's hope but it looks impossible to deliver in practice.

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