Sterling falls on BOE's Carney remarks and Brexit uncertainty

British pound fell against US dollar on Tuesday, following comments by the Bank of England Chairman Mark Carney and concern over the Brexit and the trade war.

Carney stressed that continued uncertainty over the extent of an agreement between the United Kingdom and the European Union on the exit from the common bloc has a negative impact on the British economy.

He pointed out that the escalating trade war between the United States and China is hurting the British and global economies.

Observers believe that the escalation of the trade war has given an excuse for global central banks to hint cutting interest rates, as it has already been pointed out by the US Federal Reserve and the European Central Bank and others.

However, Carney said that the widespread market speculations that the Bank of England will lower interest rates is merely a prospect rather than an assurance that it will be recognized or will be implemented soon.

In terms of trade, by 19:02 GMT, the pound fell against the US dollar by 0.2% to 1.2605, with the higphest price at 1.265 and the lowest price at 1.2584.