Tuesday, 9 March 2010

UK's growing trade gap sends sterling below $1.50

The Times
"Sterling slumped on foreign exchanges again this morning after it was revealed that Britain’s trade deficit with the rest of the world unexpectedly widened during January.Britain’s deficit in global goods widened to £7.987 billion during January, the biggest total since August 2008.This was up from £7.01 billion in December and compared with the £7 billion that City economists had expected.Sterling, which had traded at $1.5067 earlier in the session, sank to $1.4948 immediately after publication of the figures. "

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