Posted by Mark ThompsonConcerns about UK manufacturing have had an impact on foreign exchange trading as the latest Markit/CIPS Purchasing Managers' Index has fallen to 47.4.This marks a decline from the 50.8 seen last month and caused sterling to trade at $1.5905, a decline of over one per cent on the previous day, reports Reuters.The Chartered Institute of Purchasing & Supply's chief executive officer David Noble said: "Following a short–lived improvement last month the manufacturing PMI has now dropped like a stone to a 28-month low and officially into contraction territory."He added the sector is struggling following the boost it provided to the economy earlier in the year and noted the UK is living in "worrying times".Analysts may also been keen to keep an eye on the property market as the latest data from Nationwide indicated that last month house prices in the UK rose by 0.4 per cent.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site