Sterling fell in European trade on Monday, to head for the sixth loss in a row against dollar and hit a 2-month low, amid rising bets for a rate cut to the negative territory in the UK, especially following recent remarks by the chief economist of the BoE. 

The pound fell against the dollar by 0.1% to $ 1.2074, the lowest since March 26, and the opening price of trading today at $ 1.2083, and recorded the highest level at $ 1.2125.

GBP/USD shed 0.1% to 1.2074, after closing down 1% on Friday, marking the longest daily streak in two months. 

The UK's chief Brexit negotiator David Frost, said that the Brexit talks with his EU counterpart, Michel Barnier, are moving slow with little progress.

Sterling lost 2.4% against the US dollar during the past week, posting its second weekly loss, and the largest since mid-March.

In addition to strong demand for the US dollar, sterling's biggest weekly loss in two months came due to confusion in the UK about the government plans to reopen the economy gradually. .

UK Prime Minister Boris Johnson announced the start of reopening the economy and some services while lifting restrictions on citizens. 

The announcement was met with sharp criticism as vague and inconclusive. 

While the dollar index rose on Monday over 0.1%, to extend its rally for the fourth straight day, nearing three-week highs, on strong demand.

During his interview with the Telegraph on Saturday, the Chief Economist at the Bank of England, Andrew Haldane, did not rule out cutting the interest rates to the negative territory to mitigate the challenges of the Brexit and the coronavirus impact.

Asian stock indices opened the first session of the week higher on optimism on reopening the global economy with forecast-beating GDP data from Japan. 

From Japan, GDP contracted 0.9% in the first quarter. besting estimates of 1.1%. 

Japan's tertiary industrial index fell 4.2% in March, widening a 0.7% February drop. 

Federal Reserve Chair Jerome Powell warned a recession that might continue until late 2021, expecting 20-30% contraction in the current quarter with recovery in the second half of the year. 

He called on Congress to pass more economic stimulus and aid bills, while noting the unemployment could reach a peak of 25%. 

According to World Health Organization data, global deaths reached 315,000 among 4.718 million confirmed cases. 

Japan's TOPEX rose 0.43% to 1,460, while Nikkei 225 added 0.70% to 20,177. 

China's CSI 300 added 0.65% to 3,938, while Shanghai climbed 0.61%. 

Hong Kong's Hang Seng advanced 0.46%, while South Korea's KOSPI climbed 0.75% to 1,941. 

New Zealand's NZX 50 rose 0.68%, while Australia's S&P/ASX 200 climbed 1.18% to 5,468. 

Gold prices rose to April 14 highs in Asian trade as the dollar index declined for first session in four, following an earlier interview with Fed Chair Jerome Powell and ahead of US data.

As of 05:10 GMT, gold futures due in June rose 0.73% to $1,770.40 an ounce, while the dollar index inched down 0.06% to 100.35. 

Federal Reserve Chair Jerome Powell warned a recession that might continue until late 2021, expecting 20-30% contraction in the current quarter with recovery in the second half of the year. 

He called on Congress to pass more economic stimulus and aid bills, while noting the unemployment could reach a peak of 25%. 

From the US, housing prices index is expected up to 35 from 30 in April. 

The Democrats in the House of Representatives passed a $3 trillion aid bill last week but it's expected to fail through Republican-held Senate. 

According to World Health Organization data, global deaths reached 315,000 among 4.718 million confirmed cases. 

USD/JPY tilted higher in Asian trade following an earlier interview with Fed Chair Jerome Powell and ahead of US data and as Japan officially registers recession. 

As of 06:30 GMT, USD/JPY rose 0.13% to 107.20, with an intraday high at 107.28.

From Japan, GDP contracted 0.9% in the first quarter. besting estimates of 1.1%. 

Japan's tertiary industrial index fell 4.2% in March, widening a 0.7% February drop. 

Federal Reserve Chair Jerome Powell warned a recession that might continue until late 2021, expecting 20-30% contraction in the current quarter with recovery in the second half of the year. 

He called on Congress to pass more economic stimulus and aid bills, while noting the unemployment could reach a peak of 25%. 

From the US, housing prices index is expected up to 35 from 30 in April. 

The Democrats in the House of Representatives passed a $3 trillion aid bill last week but it's expected to fail through Republican-held Senate. 

According to World Health Organization data, global deaths reached 315,000 among 4.718 million confirmed cases.