  We present a spectral analysis of a 30d, near-continuous observation of the
Seyfert 1 galaxy NGC 7469 with RXTE. Daily integrations show strong spectral
changes during the observation. Ourmain result is that we find the X-ray
spectral index to be correlated with the UV flux. Furthermore, the broad-band
X-ray photon flux is also correlated with the UV continuum. These correlations
point towards a model in which the X-rays originate via thermal Comptonization
of UV seed photons. Furthermore, the UV is also correlated with the
extrapolation of the X-ray power law into the soft X-ray/EUV region. Our data
analysis therefore re-opens the possibility the the UV photons and their
variability arise from reprocessing, as long as the primary source of heating
is photo-electric absorption in the reprocessor, rather than Compton
downscattering, A coherent picture of the X-ray/UV variability can therefore be
constructed whereby absorption and reprocessing of EUV/soft X-rays in a
standard accretion disk produce a variable seed photon distribution which are
in turn up-scattered into the X-ray band. We also find a significant
correlation between the 2-10 keV flux and the 6.4 keV iron K-line suggesting
that at least some portion of the line originates within ~1 lt day of the X-ray
continuum source. Neither the power law photon index nor the Compton reflection
component are correlated with the 2-10 keV flux. The latter is not correlated
with the iron K line flux either. We do find an apparent correlation between
the X-ray spectral index and the strength of the Compton reflection component.
In an Appendix we show, however, that this can be produced by a combination of
statistical and systematic errors. We conclude the apparent variations in the
Compton reflection component may be an artifact of these effects.
