The Pound continues to get hammered this morning as it remains on-course to post a second straight sizable weekly loss. A much lower than expected reading for the UK PMI number has added to a growing list ofweak UK data points that has taken potential BOE rate hikes further off the table. Unless there are some fairlyweak US jobs numbers, the Pound looks to have further downside left to go before this selloff runs out of steam.There is decent support just under the 1.6800 level but given the potential for additional long liquidation, thePound is likely to see the largest downside reaction if today’s Non-Farm Payroll beats expectations by any sizablemargin.
