U.S. trade deficit widens, confounding forecasts

NEW YORK (Forex News Now) – The U.S. trade deficit widened unexpectedly in May to its highest since November 2008, official data showed on Tuesday, in one of the day’s major FX news events.

The Commerce Department said the trade gap climbed to USD 42.3 billion during the month, up nearly 5% from April’s $40.3 billion.

Global forex analysts had expected the deficit to contract slightly to USD 39 billion in May, two major forex news outlets reported.

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