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Dollar Steady Even After Trade Balance Deficit Widens

January 11, 2008 (Last updated on September 17, 2010) by

The dollar showed a mild growth against the euro today even after the trade balance report showed the widening of the deficit. Against the Great Britain pound the U.S. dollar also went up, with GBP/USD hitting the lowest value since march — 1.9481, but lost the most of the gain after the trade balance release.

The U.S. international trade balance deficit increased in November from $57.8 billion to $63.1 billion as the imports grew ten times faster than exports. Both average export and import prices rose by 0.3% — slowly than in October.

Treasury budget numbers for December were also reported today showing the surplus of more than $48.2 billion — a higher surplus than in December 2006 (almost $42.0 billion), but still lower than the expected $52.0 surplus for December 2007.

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