The political circumstances in UK continues to keep a limit on any rally of the sterling. Main focus is on the leadership race of course. Boris Johnson reiterated his plans for Brexit: to leave the European Union by October 31 — with or without a deal. Johnson further added that the Brexit deal is almost dead and it would be strange if the EU decides to impose tariffs on UK goods. These comments added to expectations of a no-deal Brexit and basically spook speculators away from aggressive bullish trades.