The British Pound fell on Friday, weighed down by the recent statement from the Bank of England Governor Andrew Bailey.
Bailey warned during a press conference held yesterday from the coronavirus impact on the British economy, especially amid expectations of a second wave of infections.
Bailey emphasized that the economic recovery pace might be very slow, which means that the British GDP will remain under pressure for some time.
The Bank of England kept the interest rate at 0.10% unchanged yesterday, and Bailey stated that the bank would not slash the rate to negative to support the economy.
Bearing in mind that British Prime Minister Boris Johnson has warned that a second coronavirus wave may hit multiple European countries.
As of 19:59 GMT, GBP/USD fell by 0.6% to 1.3061, after hitting a high of 1.316 and a low of 1.301.