Pound sterling extended losses as.............>

FOREX: Pound sterling extended losses as post-election enthusiasm continued to

fade amid resurgent Brexit concerns. Sterling remained heavy following Tuesday's

sharp sell-off triggered by reports re: PM Johnson's plan to legislate for a

cliff-edge Brexit transition deadline to be fixed at the end of 2020. MPs will

vote on the revised Withdrawal Agreement Bill on Friday. Cable sank deeper below

the pre-election levels, probing the water under yesterday's low of $1.3100.

- Safe haven currencies gained some traction with markets in a slightly cautious

mode in the wake of the recent risk developments and ahead of year-end. That

said, the margins were not overwhelming.

- SEK lost some ground, pre-Riksbank positioning might have been in play.

- NZD was offered after the local BoP current c/a deficit swelled more than

forecast, while Tuesday's GDT auction proved rather weak. BBG mentioned a trader

source citing NZD sales vs. AUD on the back of yield differential expectations.

- Focus turns to German Ifo Survey, as well as inflation data from the UK, EZ

and Canada. Central bank speaker list features ECB's Lagarde and Coeure as well

as Fed's Brainard and Evans.