Well that was a nice surprise. The UK December visible trade deficit improved a lot more than expected, to GBP7.367 bln against the median forecast of -8.1 bln. This is the lowest deficit since June 2007. Also good news with the November deficit being revised down to -8.114 bln from previous -8.33 bln. The Governments’ policy of benign neglect toward sterling seems to be working admirably.