No article 50 until we're clear about our EU relationship says Osborne

Further comments from the Chancellor

• We should move towards arrangement that provides the closest possible economic ties with our neighbours
• Urgency is required to establish new arrangements with EU
• There has been no disorder in financial markets
• Does not expect the situation to deteriorate but has options if it does
• Plan for leaving the EU needs to offer financial stability

To try and summarise the situation now for trading, we have three pretty clear risks going forward.

1. The battle with Europe over the leaving process and the damned article 50 (that's will drag on)
2. The Conservative leadership battle (could be quick, we'll know Thursday)
3. Any potential fall out in the economy (have to take this month by month)

Almost everything else will just be noise but the longer term, more definitive moves will come on the back of those three reasons.