Pound Mixed Against Other Majors [GBP/USD]

The sterling was mixed with its major counterparts on Wednesday in New York. Traders pondered a report showing the UK's trade deficit remained stable in January.
The report showed that the UK's trade deficit totaled GBP 4.1 billion in January, same as in December. The trade deficit for December was revised from GBP 4.7 billion initially estimated. Economists were expecting a deficit of GBP 4.6 billion.
The pound rose against the dollar on Wednesday, moving further away from Tuesday's 5-day low.
The sterling peaked at 2.0214, up from 2.0090 earlier in the morning. Investors digested US mortgage applications declined as interest rates climbed to a 5-month high.
The sterling fell to a weekly low versus the euro on Wednesday. The pound dropped to .7680 by 10:00 am ET, down from an early morning high of .7626.
Traders considered two separate reports showing Euro Zone January industrial output growth accelerated and French annual inflation remained high in February.Against the yen on Wednesday, the pound lacked direction.
The pair bounced between 207.97 and 206.33 throughout the morning, just above Monday's weekly low.
Investors mulled news that Bank of Japan Deputy Governor Toshiro Muto was officially rejected on Wednesday by the upper house of parliament, ending for the moment his bid to become the bank's next governor and a report showing Japan's consumer confidence sunk to a 5-year low in February.

source: RTTNews.com