British pound rose against US dollar on Thursday, despite Bank of England Chairman Mark Carney's warnings.

Carney said that the failure to reach an agreement on Britain's exit from the EU meant that markets were subject to severe volatility.

Carney confirmed that his team at the Bank of England would lead the British economy to safety until the completion of the Brexit on October 31.

As for his nomination to succeed Christine Lagarde as the IMF managing director, Carney replied that he is currently focusing on his job and his role in the Bank of England, but that question should be asked later.

The markets today focused on the US Federal Reserve Chairman Jerome Powell's testimony before the Senate Banking Committee, in which he stressed that market confidence is shaken in the US economy, but when interest rate cuts were hinted, the economy partially recovered.

In terms of trading, by 19:05 GMT, GBP/USD rose by 0.2% to 1.2526, with the highest price at 1.2571 and the lowest at 1.2489.

Gold prices fell at the end of trading today, shedding earlier gains reached today, as US dollar stabilized against most major currencies as well as markets absorption of the US interest rate expectations.

Federal Reserve Chairman Jerome Powell testified before the Senate Banking Committee that the US economy is affected by a drop in market confidence, but partly recovered after hinting at a rate cut.

Powell said yesterday in a testimony before the House of Representatives that there are factors of uncertainty and risks that put pressure on the US economy, and analysts considered the remarks as a signal for an interest rates cut soon.

In a related context, by 18:01 GMT, the dollar index (against a number of major currencies) stabilized at 97.1 points, with the highest level at 97.1 points and the lowest at 96.8 points.

Gold futures (August delivery) fell by 0.4% an closed at $1406.7 per ounce, the precious metal hit a high of $1429.4 and a low of $1405.4.

US dollar steadied against most of the major currencies following Federal Reserve Chairman Jerome Powell's testimony before the US Senate earlier today.

Powell confirmed in his remarks today on what he pointed out in his testimony before the US House of Representatives yesterday, in which he stressed the risks and pressures facing the US economy and the uncertainty that lead to slower growth.

Powell said the trade disputes are hurting the US economy, affecting market confidence, and that the slowing global economic growth is casting a shadow over markets.

Economic data released today showed the number of jobless claims in the US fell by 13,000 to 209,000 last week, while the CPI rose 0.1% in June.

In terms of trade, the dollar index (against a number of major currencies) stabilized by 97.1 points at 17:30 GMT, reaching a high of 97.1 points and a low of 96.8 points.

Oil erased earlier gains and started to retreat despite the stability of the dollar index and the Gulf of Mexico storm concerns.

US authorities have decided to evacuate a number of crude mining rigs in the Gulf of Mexico because of a strong storm, which affects production.

OPEC reported a drop in its crude production by about 68,000 barrels to 29.8 million bpd last month compared to May.

As of 17:00 GMT, the dollar index (against a number of major currencies) stabilized at 97.08 points, reaching a high of 97.1 points and a low of 96.8 points.

In terms of trade, by 16:56 GMT, West Texas stabilized at $60.4 per barrel, and recorded a high of $60.9 and the lowest price at $60.2.

Brent fell 0.4% to $66.7 per barrel, with a high of $67.6 and a low of $66.7.