The Great Britain was strong against the US dollar and the Japanese yen (but not against the euro) today even after the release of disappointing trade data. The trade deficit shrank but not as much as specialists had expected.
UK trade balance demonstrated a gap of £11.1 billion in August. While it was smaller than the deficit of £12.2 billion demonstrated in July, the shortage was still above £10.0 billion predicted by analysts. The data fueled speculations that the Bank of England should postpone monetary tightening.
GBP/USD gained from 1.5346 to 1.5374 and GBP/JPY advanced from 184.03 to 18476, whereas EUR/GBP was up from 0.7343 to 0.7366 as of 9:43 GMT today.
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