Trade deficit widens

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The US trade deficit was broader than anticipated at US$58.3bn in January from a revised US$55.7bn the preceding month. There was a disappointing export functionality, although oil imports dropped. The dollar has shrunk to 1.3470 within a direct response and also a sustained break above 1.3460 would activate additional selling pressure with greater speculation over a move to 1.3660.

Analysis provided by http://www.fxtoday.co.uk