On Tuesday the British currency was weaker against the dollar, despite data indicating that the U.K. trade deficit fell to the lowest in more than a
year in April.
Cable was last at 1.5284, shedding 0.43% little changed from around 1.5293 ahead of the report.
On Tuesday the Office for National Statistics said that the trade deficit narrowed to £1.2 billion in April, the lowest since March 2014 from an upwardly revised £3.1 billion the previous month.
The goods trade deficit narrowed to £8.5 billion from £10.7 billion, also the lowest level since March 2014. An £8.6bn deficit was partially offset by an estimated surplus of £7.4bn on services, the office said.
Exports rose 4.8% in April, the largest increase since September 2014.
The ONS added that in the quarter to April, exports were flat after 0.3% growth in the first quarter, but imports were up 2.1%, the same as in the three months to March.
UK exporters have struggled in the face of weak demand in the eurozone, says BBC News.
Sentiment for the pound was also weakened as traders remain concerned over the prospect of "Brexit" ahead of a referendum on EU membership which will be held before the end of 2017.
The euro approached one-month high against the pound, with EUR/GBP trading at 0.737500.
Data released Tuesday confirmed that the euro area economy grew 0.4% in the first three months of the year.
