The gloom of the pound graced the European session, with market focus now focused on the announcement from UK Prime Minister Boris Johnson whether the coronavirus ban will be extended or lifted completely on 21 June.
Earlier, there were reports that said the government was now considering postponing plans to remove coronavirus blockade for up to two or four weeks.
Accordingly, PM Johnson is expected to make the announcement at 5.00 pm UK time (1.00 am Malaysian time).
At the beginning of the European session, the pound continued to depreciate lower with the price movement approaching the 1.4000 level against the US dollar.
Meanwhile, demand for the greenback safe-haven increased, as investors began seeking protection ahead of the FOMC policy meeting this week.
Against a basket of major currencies, the dollar index remained trading stronger around the price of 90.55.
The euro remained traded weak even after European Central Bank (ECB) policymaker Robert Holzmann said the central bank was in a danger zone due to concerns over rising inflation.
While the central bank remains adamant in its stance to maintain current monetary policy, but this statement suggests that the ECB is likely to discuss rising inflation in the future.
