July 11, 2019 / 3:13 AM / 5 months ago

Pound falls further as BoE's Carney flags trade, Brexit uncertainty

FILE PHOTO: British five pound banknotes are seen in this picture illustration taken November 14, 2017. REUTERS/Benoit Tessier

(Reuters) - Sterling extended losses on Tuesday, to fall 0.4% against the dollar and euro after markets interpreted comments from Bank of England governor Mark Carney as dovish.

Carney said that while interest rate rises might be needed if Brexit progressed smoothly and the BoE was focusing on medium-term dynamics, “in some jurisdictions the impact of uncertainty may warrant a near-term policy response as insurance.”

Sterling, which had been 0.2% lower on the day before Carney’s speech, raced to a new two-week low of $1.2584. Against the euro, the pound touched a session low of 89.69 pence.

Reporting by Sujata Rao; editing by Dhara Ranasinghe

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