UK manufacturing plummeted by -2.9% against forecast of only -0.5% dragging pound lower in early London trade, but the unit managed to recover most of its post news release losses as focus shifted to the US Non Farm payroll report due later today at 13:30 GMT. Part of the reason for currency market’s rather nonchalant reaction to the worst UK manufacturing reading since 1981 may have to do with the fact that the manufacturing sector comprises a relatively modest percentage of the UK economy which is much more service oriented than the large economies of the Eurozone.