Mubasher: The UK’s trade balance deficit widened significantly in December, driven by a rise in goods imports including fuels from the European Union (EU) countries.

Total trade deficit grew by GBP 1.2 billion between November and December 2017, data by the Office for National Statistics (ONS) on Friday showed.

During the three months ended December 2017, deficit expanded by GBP 3.8 billion to GBP 10.8 billion due to sharp increases in fuels import prices, growth in imports from non-EU countries, and declines in exports to the EU.

By 09:58 am GMT, the EUR/USD pair increased 0.13% to $1.2263.