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On Tuesday figures showed that in the UK the deficit had unexpectedly widened. The goods trade gap was 6.478 billion pounds in February, much higher than the forecast for the 5.7 billion pounds. On Wednesday sterling rose to a one week high versus the dollar and a two week high against the euro after speculation that the London Stock Exchange may be a takeover target.
On Wednesday, the dollar had rallied after the U.S. trade deficit for February was narrower than expected at $65.7 billion, the third widest on record but below economists' estimates of $67.5 billion. But before the long Easter holiday weekend, the market was stuck in familiar ranges with investors unwilling to take positions.
This article was compiled by BOV- Financial Markets. BOV is licensed to conduct investment services business by the MFSA. Financial Markets may be contacted on Tel: 22753126 / Fax 2275 3709
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