UK June merchandise trade balance (million GBP) released: -23007

UK June trade deficit widened to 23.007 billion GBP, missing expectations and prior data, potentially dampening BOE easing bets and pressuring GBP.

The UK’s merchandise trade balance for June came in at -23,007 million pounds, lower than the expected -20,500 million pounds and also worse than the previous figure of -18,660 million pounds. This significant deviation from expectations indicates an expansion in the trade deficit, which could undermine market expectations that the BOE will maintain its accommodative policy and put pressure on pound liquidity.