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The trade balance in Britain has significantly risen in January – 9.2 billion pounds. This is higher than last month’s 8.7 billion and early expectations that stood on 8.6 billion. The impact on the British pound seems very limited at the moment – GBP/USD is almost unchanged at around 1.6080.

Previous releases had a stronger impact on sterling. The muted reaction is probably due to the anticipation towards the rate decision expected on Thursday – there might be rate hike…

For more on the pound, read the GBP/USD forecast.