It is well known that the sixth Painlev\'e equation \PVI admits a group of
B\"acklund transformations which is isomorphic to the affine Weyl group of type
D4(1). Although various aspects of this unexpectedly large
symmetry have been discussed by many authors, there still remains a basic
problem yet to be considered, that is, the problem of characterizing the
B\"acklund transformations in terms of Riemann-Hilbert correspondence. In this
direction, we show that the B\"acklund transformations are just the pull-back
of very simple transformations on the moduli of monodromy representations by
the Riemann-Hilbert correspondence. This result gives a natural and clear
picture of the B\"acklund transformations. Key words: B\"acklund
transformation, the sixth Painlev\'e equation, Riemann-Hilbert correspondence,
isomonodromic deformation, affine Weyl group of type D4(1).Comment: 24pages, 4 figures, 3 eps file