The pound weakened on Thursday after worse-than-expected trade deficit figures rekindled concerns about the UK’s economic outlook. The data showed a widening gap between imports and exports, adding pressure on the currency. Analysts suggest this development may prompt a reassessment of the pound’s strength in the near term.

The figures released by the Office for National Statistics revealed a significant increase in the trade deficit, surpassing market expectations. This unexpected widening has fueled speculation about potential implications for economic growth and the pound’s valuation.

Market participants are closely monitoring the situation, anticipating further economic data releases and policy responses from the Bank of England. The pound’s trajectory will likely be influenced by these factors in the coming weeks.