
Jan 30 (Reuters) - News that the U.S. goods trade deficit ballooned to a record high in December is helping to keep U.S. tariff-related risks at the forefront of foreign exchange traders' minds.
Data published on Wednesday showed that the U.S. goods trade deficit soared by 18% to $122 billion in December, with imports up 3.9% and exports down 4.5%.
The huge gap was revealed just over a week after President Donald Trump directed the Commerce and Treasury departments and the U.S. trade representative to investigate the U.S. trade deficit in goods and recommend appropriate measures by April.
Trump's nominee to run the Commerce Department, Howard Lutnick, said at his Senate confirmation hearing on Wednesday that he had advised Trump to pursue across-the-board tariffs country-by-country to restore "reciprocity" to the United States' trading relationships.
The dollar could strengthen if Trump follows through on some of the numerous trade threats he has delivered since returning to the White House on Jan. 20.
Related comment: nL2N3OH0FR
For more click on FXBUZ