Cable is coming under increasing pressure, presently down at 1.5090. A raft of weak economic numbers haven’t helped matters any. U.K. November manufacturing PMI slumped to 34.4, way below the median forecast of 39.7. To compound things Septembers’ reading was revised down to 40.7 from initial 41.5. U.K. October net mortgage lending was also disappointing, a mere GBP 0.46 bln compared to a median forecast of GBP 1.7 bln. New mortgage approvals for October came in at 32k, in line with the median forecast. Just more weak economic data. Looks like a rate cut of at least 100 bps is a virtual shoe-in later this week.