UK’s visible trade deficit widened to -£7.745 bln in January from -£7.232 bln in December, worse than the median forecast which had called for a -£7.5 bln deficit. The non-EU trade gap widened to -£5,704 bln from -£4.340 bln in December, much worse than the median forecast of -£4.25 bln and the widest deficit on record. While exports to EU countries rose nearly 6% in the month, exports to outside the EU plummeted nearly 16%.
Cable is steady post release, up some 10 ticks at 1.3750.
