is widely believed to be a major risk to the British economy.
The euro is trading close to sessions due to rising expectations European Central Bank President Mario Draghi will signal a rate cut in September at a policy meeting later this week to keep inflation expectations on track
In Asia , regional currencies were largely obliged to move into big global units, although investors are watching for some developments in China-US.
The dollar was curtailed against other major currencies, as expectations for a fall in US Federal Reserve interest rates in the next week were lower.
Speculations about the probability of Brexit without a deal and questions about how far the major central banks are going to ease monetary policy are likely to set tons on currency markets in the coming weeks, say traders and analysts. "Johnson is expected to become the new prime minister, so there is a real chance for hard Brexit," Takuya Kanda, general manager of research at the Gaitame.Com Research Institute.
In the short term, a further decline in pounds may be limited because positions are already very short, and in the medium term the sterling will
The pound traded at 1
The British Conservative Party will announce the results of the leadership election on Tuesday, with Johnson expected to win, which makes it to become prime minister on Wednesday
growing speculation Johnson will pull the UK out of the EU on October 31 with no trade deal
Hedge funds have increased their short positions in the pound to a 10-month high in the week to July 16, the Commodity Futures Trading Commission
stagnated at 1.1208 dollars after traders expected the ECB policy meeting and Dragger's comments at a press conference on Thursday, 10 basis points to minus 0.50 percent to tackle the risks of global trade tensions.
Economists surveyed by Reuters expect the ECB to change its guidelines to pave the way for a cut in the interest rate in September. 107.91 yen. The US central bank is expected to reduce its target range from 2.25% to 2.50% by 25 basis points per session ending July 31, but the expectations for a larger 50 basis point
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