Sterling doesn't look back as month-end and...>

FOREX: Sterling doesn't look back as month-end and Brexit positivity supports

-GBP sits at the top of the pile Tuesday, staging a particularly firm rally

against the USD as month-end flows (predominantly USD negative) and positive

Brexit headlines supported. PM May is said to have set a deadline for talks with

the opposition Labour Party to conclude next week, while the Labour Party

themselves have now backed a second referendum as a last resort if the

government fail to grant concessions.

-CAD was second best, rallying firmly despite a poor April GDP print as BoC

governor Poloz highlighted tentative greenshoots in household debt trends.

USD/CAD broke below C$1.34 support to eye the 50- and 100-dmas, which both sit

at C$1.3344.

-The Fed rate decision is due Wednesday, with markets focusing on the prospects

of a cut (or lack thereof) to the Fed's Interest on Excess Reserves (IOER). UK,

Canadian and US manufacturing PMI is also due, alongside April Manufacturing

ISM. May Day holidays across mainland Europe keep many exchanges closed, but the

UK is open.