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US trade deficit narrows more than forecast in February

US trade deficit narrows

U.S. trade deficit narrowed more than forecast in February, underpinned by drop in the goods trade gap with China, Commerce Department data released on Wednesday showed.    

The trade shortfall declined to $49.4 billion in February from $51.1 billion in January. Economists had predicted a trade gap of $53.5 billion.

Goods trade gap with China fell 28.2 percent to $24.8 billion, as exports to China edged up 18.2 percent and imports plunged 20.2 percent.

As of 12:50 GMT, the dollar index continued to trade lower at 96.54 after it recorded a low of 96.45 and a high of 96.77 during Wednesday’s trading session. 

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