Sterling remains on the backfoot due to.......>

CABLE: Sterling remains on the backfoot due to Brexit woes. Cable had touched a

late Friday low of $1.2715 but had managed to bounce back up to $1.2752 in

opening Asian business as market reacted to press reports that PM May would make

a 'bold offer' (suggested to be on workers' rights to attract Labour MPs'

support). However, the early enthu8siasm quickly faded before it eased off to

$1.2725. Early Europe bounced rate up to $1.2757, as rate tracked EUR/USD's

recovery, but struggled to keep pace before it drifted off through the day. The

break below $1.2725 opened a retest of the Friday $1.2715 low before it settled

around $1.2725 in post Europe trade. Support remains at $1.2715 through to

$1.2700, a break to expose $1.2670. Resistance $1.2750/60.

- BOE Carney, Broadbent, Tenrayro, Saunders testify to the TSC on the Inflation

Report at 0830GMT Tuesday. UK CBI Trends data due at 1000GMT. 

- Brexit remains the key driver. If PM May fails to get her Brexit deal passed

in early June it could open the door for Brexit hardliner Boris Johnson to take

over. This then opens door to a hard no deal Brexit or a General Election.