The negative economic news continues to flow with UK manufacturing PMI disappointing the trade and in turn justifying a continuation of the slide from the July highs. Sell rallies to 1.6203, looking for an initial target of1.6102 and perhaps even 1.6039 basis the December Pound contract. Like the Swiss, the UK data overnight wasthe weakest data in 1 1/2 years and that suggests the currency needs to fall even further to garner an export lift.
