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British Prime Minister Boris Johnson said on Friday that the likelihood of a trade deal will be determined by their friends in the European Union, as reported by Reuters.

Additional takeaways

“This country can prosper mightily with or without a deal.”

“If we leave on Australian terms, we will make a great success of it.”

“Not going to comment on the odds of a deal.”

“Substantial and important differences still to be bridged.”

Market reaction

The British pound struggles to find demand following these remarks. As of writing, the GBP/USD pair was down 0.1% on the day at 1.3343.