UK January trade data weaker than expected

UK January global goods trade deficit has come in at -7.987 bln, weaker than median forecast of -7.0 bln and biggest deficit since August 2008. Non-EU goods trade balance -4.834 bln, much weaker than median forecast -3.40 bln and biggest deficit since January 2009.

Getting reports of sovereign buying below 1.4950, but haven’t seen any bounce as yet, presently at 1.4940/45.