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I remember that wire it's on my harness also. It was stretched down to whatever it was connected to, below and to the rear of the coil pack. Not sure what it was though. I'll take a picture later and post it.
That video I posted might have the answer to your lean codes. Isolator bolts or intake manifold gasket. The code will set when the engine is cold then the leaks will seal when it warms up, if that's the problem. If you have a code reader you can check your freeze frame data, and/or watch fuel trims when the engine is cold. It's not uncommon, see Johnny Paycheck's comment.
Ford used a rubber for the isolator bolts that gets hard over time and loses its elasticity. It doesn't hold the seal when cold but expands and works when warm. I tried to find the eBay source for mine but now there are 40 sellers for them. I think that you can still find the Ford green ones, but Dorman's are probably good also.
Here's that wire. Looks like the connector on the end of yours is missing. Don't know what it is. Maybe a cylinder head temperature sensor (CHTS). They have voltage and use resistance to calculate temperature. There have been discussions about coolant sensors and head sensors. JBrew knows a lot about them. Some years used both, apparently, and some years used just one.
