US trade deficit narrows
The US trade deficit has narrowed to USD25.96 billion, the lowest level since November 1999 as export levels grew despite rising energy prices. The gap between imports and exports decreased by nearly 10%, suggesting that improved trade could boost GDP in the second quarter. US export levels have also posted their largest gains since July 2008 this month.
Demand from emerging economies such as Brazil and China is expected to play a large role in lifting the global economy out of recession. US dollar exchange rates remain firm against the euro and pound, trading at 0.71 and 0.61 respectively.
The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.