ECB President Mario Draghi and Pacific Investment Management Co.

Pacific Investment Management Co.: The pound snapped five days of declines versus the euro before reports this week that economists forecast will show U.K. growth. India s rupee strengthened as emerging-market currencies gained for the first time in eight days. ECB President Mario Draghi will loosen monetary policies further in fall and the euro could fall below $1.30, Mohamed El-Erian, former chief executive officer of Pacific Investment Management Co. and a View columnist, wrote today, according to Bloomberg. The euro fell to $1.3422 at 5 p.m. New York time after touching $1.3367 on July 30, its lowest level since Nov. 12. It slipped 0.1 percent to 137.66 yen. The dollar dropped less than 0.1 percent to 102.57 yen after rallying 0.8 percent last week, the most since the period through April 18 and The euro traded at almost its lowest level versus the dollar since November as investors held the largest position in two years betting on a drop in the currency before the European Central Bank meets this week. Mr. Draghi will likely sound more dovish this week, especially that inflation reports continue to soften in Europe , Sireen Harajli, a strategist at Mizuho Bank Ltd. in New York , said in e-mail. Speculators have added to EUR shorts last week, adding to downward pressure on the euro. A short is a bet an asset will decline in value. (news.financializer.com). As reported in the news.