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Sterling let down by poor production..........>

FOREX
FOREX: Sterling let down by poor production numbers, USD mixed amid nervy equity
markets.
-GBP/USD dropped through the Asia lows after manufacturing production growth
slowed to the lowest rate of growth in close to a year, dragging GBP off what
was initially a strong performance after the BoE's hawkish tones yesterday. NOK
is at the bottom of the G10 table after CPI slumped and AUD is having a rare up
day as lumpy option expiries keep AUD/USD afloat, countering the relatively
dovish SOMP overnight.
-USD/JPY has reclaimed Y109 after the equity market inspired fall yesterday and
JPY remains generally weaker ahead of what is indicated to be a positive start
to the Friday Wall Street session (as per US equity futures).
-EUR's had a quiet morning, trading in a tight 30 pip range in Europe as markets
await fresh cues from the US. The USD index looks mixed and is a follower, not a
leader, so far today.
-Attention turns to Canada's jobs figures at 1330GMT before US wholesale numbers
at 1500GMT. BoE's Cunliffe speaks in California at 1645GMT.

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