The US index of leading economic indicators was unchanged in January after three increases over the previous three months. The flat reading in January, which follows three consecutive monthly gains, was slightly below the consensus of forecasts for a 0.1pc rise. However, the Conference Board, which publishes the index, remained relative positive for the US economy. "Despite no change in January, the recent positive trend in the leading economic indicators suggests that US economic growth could advance soon," said Ken Goldstein, Conference Board economist. But the dollar has continued to decline this afternoon in the wake of another record trade deficit reading for December and the biggest spike in pipeline inflation in 13 years in January. There was also bad news for the labour market, with news that the number of Americans signing up for first-time jobless benefits jumped above 400,000 again last week. At 1530, the euro was trading at USD1.0810, up 0.65pc since this morning. //www.fxcentre.com