Fresh concerns were raised over the strength of Britain’s economic recovery this morning after it was revealed that Britain’s trade deficit with the rest of the world unexpectedly widened during January. Britain’s deficit in global goods widened to £7.987 billion during January — the biggest total since August 2008. This was up from £7.01 billion in December and compared with the £7 billion which had been expected by City economists. Sterling, which had earlier traded at $1.5067 earlier in the session, sank to $1.4948 immediately after publication of the figures. Traders said sterling was also under pressure after Fitch, the ratings agency, said Britain’s sovereign credit profile had “detriorated”. From Times Online March 9, 2010