British pound falls more than 0.5% after report on Brexit transition period deadline

The British pound fell more than 0.5% in early Asian trade on Tuesday after a media report that British Prime Minister Boris Johnson will write into law that the arrangements for the United Kingdom to leave the European Union must end by Dec. 31, 2020.

The pound fell to as low as $1.3236, down 0.7% from late U.S. levels on Monday following the report by British broadcaster ITV.