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Sterling drops after Johnson tells businesses to get ready for 'no deal'

Credit: REUTERS/DADO RUVIC

Sterling dropped sharply on Friday after UK Prime Minister Boris Johnson told businesses to get ready for a no-deal Brexit.

LONDON, Oct 16 (Reuters) - Sterling dropped sharply on Friday after UK Prime Minister Boris Johnson told businesses to get ready for a no-deal Brexit.

Johnson said that the UK should get ready for an "Australia-style deal."

At 1101 GMT, the pound was down 0.1% against the dollar at $1.2882 GBP=D3, having been up at $1.2962 before Johnson spoke. It was down 0.2% versus the euro at 90.98. EURGBP=D3

(Reporting by Elizabeth Howcroft)

((Elizabeth.Howcroft@thomsonreuters.com; +44 02075427104;))

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