Pound to Dollar Rally Extends after U.S. Data Shows Consumer Imports Falling
“The deficit decreased from $107.7 billion in March (revised) to $87.1 billion in April, as exports increased and imports decreased. The previously published March deficit was $109.8 billion,” – Census Bureau.
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The Pound extended gains while other currencies escaped from under the Dollar’s boot on Tuesday after international trade data showed U.S. demand for imported consumer items falling during April in an outcome that could be pertinent for the Federal Reserve (Fed) monetary policy outlook.
Dollars had been bought widely on Tuesday, leading it to gain over almost all major currency counterparts, although this trend went into reverse somewhat after the Census Bureau released its estimate of the trade balance for April.
“The deficit decreased from $107.7 billion in March (revised) to $87.1 billion in April, as exports increased and imports decreased. The previously published March deficit was $109.8…
