Trading volumes were light as the U.S. &......>

FOREX: Trading volumes were light as the U.S. & Canada observed their respective

Labor Day holidays. Weekend Brexit comments from UK PM May (ruling out a second

Brexit referendum) & EU Brexit negotiator Barnier (opposing May's Chequers plan)

had GBP under pressure from the off on Monday, with downside pressure given

further legs during the EU morning on the back of a soft UK M'fing PMI print, as

GBP/USD touched a low of $1.2855. UK Parliament returns from summer recess on

Tuesday, with Brexit scrutiny exp. to increase. There have also been conflicting

reports, both suggesting & denying, that BoE Gov Carney will extend his term,

with potential confirmation at his Tsy Select Committee hearing on Tuesday.

- EUR/USD's reported resistance at $1.1630 provided a decent counter to a modest

uptick in the pair. AUD/USD touched 20-month lows of $0.7166 during Asian hours

on the back of soft AU Retail Sales, before a recovery through Europe saw the

rate touch a high of $0.7224. USD/JPY continued to lack any meaningful direction

and was held to a narrow Y110.85-111.19 range.

- The RBA MonPol decision, speech from RBA Gov. Lowe, BoE members appearing at a

Tsy Select Committee & U.S. M'fing PMI/ISM surveys headline on Tuesday.