Things continue to be very grim looking in the UK.
UK PMI (a measure of the country's manufacturing performance) dropped from 50.5 to 47.9, the worst reading since November.
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There was also weak mortgage approval data out this morning from the BOE.
The pound has been one of the most hated currencies in the world lately (along with the Japanese yen) thanks to the flagging economy, declining trade balance, and expectation of more easing.
So it's ust getting demolished today.
Sterling off around 100 pips against the USD over the past 20 mins or so... twitpic.com/c7p33p
— Markit Economics (@MarkitEconomics) March 1, 2013