The British pound dropped sharply against the U.S. dollar early on Friday in Asia after a selloff triggered by worries about the U.K.’s exit from the European Union was accelerated by computerized trades, The Wall Street Journal reported.

The newspaper noted that the reason for British currency fall was the words of French President Francois Hollande that Brussels was obliged to take hard position against the UK during the negotiations on Brexit.

The pound fell as much as 6.3% just after 7 a.m. Hong Kong time on Friday to $1.1819 from $1.2614 before recovering. However then it was able to regain lost positions. . After this, the British currency lost 1.5% and made $1.2430. It was noted that for the last month the pound has dropped by 4.2% against the dollar.