UK visible trade balance Feb GBP -10.34bln vs -9bln exp

• GBP -9.174bln revised down from -8.412bln
• non-EU GBP -3.238bln vs -2bln exp vs -1.968bln revised down from -1745bln
• trade balance GBP -2.859bln vs -1.5bln exp vs -1.536bln prev revised down from -616m
• good exports down to GBP 23.16bln, lowest since Sept 2010

Ouch. Again.

Awful data and revisions and highlighting, amongst other concerns, that having a strong currency means nothing when you're a nation of net importers. A basic lesson that many top brass conveniently forget

More disturbingly the ONS notes exports down to the US, and that's with GBPUSD down here. Ouch again

GBPUSD takes out the 1.4780 bids and posts 1.4765 with EURGBP up to 0.7278

All the data/tables and utterly fascinating facts from the ONS at www.ons.gov.uk