Converting Pounds to Euros, Brexit

JohnLock

I have quite a large amount of pounds I am thinking of converting to Euros before 29th March, which is the date the UK is due to leave the EU. If the UK leaves without a deal, the pound would likely tank, meaning I could potentially make a profit when I convert these Euros back to pounds.

Is it worth it?

skid112

it'd be worth it if you make a profit. How about if you make a loss?

BarleyGB

I remember a thread where a poster sold up his investments a couple of days before the Brexit vote in 2016. Investments largely grew about 25% in the following 12 months, wonder when/if they bought back in?

What do you know that the markets don't? sounds like a pure gamble to me.

photome

put it all on your fool proof roullette system, small stakes at a time of course, you cant lose ( in your head anyway)

Johnnyboy11

Hold 50% GBP and 50% Euro, then you can't lose on the GBP/EUR exchange rate, other than transaction costs.

AnotherJoe

Exactly. Swap your pounds for Euros and your Euros for Piunds. Then you'll be doubly hedged.

dividendhero

Buy Scottish pounds and keep them in Ulster Bank, then you're hedged against a UK break up too

melanzana

Brexit will not happen on 29th March. Nothing is ready.

But I would exchange some £s to Euro for now. Not all.

This could be a long winded exit, or no exit. No one knows.

Always a gamble. But if I were you I would ask the ERG, they seem to know how to make a few bob!