According to the Office of National Statistics United Kingdom's Visiable Trade Balance was release much better than expected. UK Trade Balance for the month of July was reported at a deficit of 8.2 B. Report for the current month of August were expected to drop lower as much as -8.8 B. Instead, UK Trade Balance made a correction to a deficit of 7.8 B.
This index measures the difference in the value between imported and exported goods during the reported month.
The British Pound didn't react positively to the news at first, continuing to drop against the US Dollar fromn 1.5696 to 1.5670 after the release. Currently, the pair took some steps to trade a little higher at 1.5707.
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