Investing.com - The U.K.’s goods trade deficit narrowed less than expected in October, official data showed on Wednesday.
In a report, the U.K. Office for National Statistics said the country's goods trade deficit narrowed to a seasonally adjusted £9.62 billion in October from a deficit of £10.51 billion in September. Economists had expected the goods trade deficit to narrow to £9.53 billion.
U.K. trade data shows the extent of import and export activity, a key contributor to the overall economic growth of the U.K.
GBP/USD was trading at 1.5678 from around 1.5677 ahead of the announcement, while EUR/GBP was at 0.7898 from 0.7899 earlier.
Meanwhile, European stock markets held on to gains. London’s FTSE 100 picked up 0.3%, the EURO STOXX 50 advanced 0.65%, France's CAC 40 rose 0.4%, while Germany's DAX tacked on 0.75%.