The Pound is under some liquidation pressure in the wake of slack Chinese economic data and lessthan stellar US economic activity. In other words, the trade could not justify June Pound pricing near the recenthighs given the disappointing pace of the global economy. Therefore the Pound wasn’t even able to garnersupport from some favorable CBI Industrial output data and widespread talk that the UK economy is seeminglypicking up momentum. Therefore Pound pricing around the 1.6833 level might be considered a perfect storm levelthat requires a widespread risk on vibe in the marketplace.
