Sterling remains on the back foot following...>

FOREX: Sterling remains on the back foot following yesterday's sharp sell-off,

driven by reports pointing to PM Johnson's plans to legislate for a firm

commitment to terminate Brexit transition period by the end-2020 cliff-edge

date. Cable hovers just above the $1.3100 level, where it bottomed yesterday.

- NZD has softened after NZ current a/c deficit widened slightly more than

forecast, while Tuesday's GDT auction proved rather downbeat. Traders speaking

to BBG pointed to NZD sales vs. AUD on the back of rate differentials.

- CHF leads gains in the G10 basket but its safe haven peer JPY is subdued.

USD/JPY may be supported by the recent golden cross formation. 

- 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.