Sterling resumes slide ahead of re-opening....>

FOREX: Sterling resumes slide ahead of re-opening of Parliament

-Opposition plans to secure a both a General Election and legal mechanisms to

lock in a delay to Brexit ensure only one thing for today's re-opening of

Parliament: an extension to political uncertainty. This has resulted in further

pressure on the GBP (which was also yesterday's poorest performer), and new

cycle lows for GBP/USD at $1.1959, further closing the gap with the

post-referendum flash crash low at $1.1841. Parliamentary business today will

centre around the PM's statement on the G7 Summit at around 1530BST.

-Elsewhere, the mood is resolutely risk-off, with the JPY adding to recent gains

and hitting new multi-year lows against the EUR (2017 lows now seen as first

support at Y114.85). AUD is bucking the trend, however, relief rallying

following the unchanged RBA decision, although the rate remains in close

proximity to the August lows at $0.6677.

-Eurozone PPI, Canada/US manufacturing PMI data and the ISM manufacturing

release for August will be the focus for Tuesday. Fed's Rosengren is also due to

speak, but after the markets close, at 2200BST/1700ET.