The U.S. trade deficit rose by 4.3% in February to a new record of $61.0 billion, on rising oil prices and imports of Chinese textiles, according to the Commerce Department. Economists were expecting $59 billion.

Imports rose 1.6% to $161.5 billion. Exports rose 0.1% to $100.5 billion.

The U.S. trade deficit with China widened to $13.9 billion compared with $8.3 billion in the same month last year.

After the release of the data the euro fell to $1.2950 from $1.2990 before the data.