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According to Duncan Higgins, senior analyst at Caxton FX, sterling will grow stronger as the UK economy continues its recovery, a forecast that may interest those involved in Forex trading.
Explaining that the British currency has so far "mirrored" the economic improvements that have been taking place, he stated: "We are expecting sterling to maintain this current upward trajectory as we enter into the New Year, though progress will be slow."
The pound has climbed eight per cent over the course of 2009 after hitting a record low against the euro last December and it has also performed well against the dollar, rising by 13 per cent.
However, it fell during Forex trading yesterday following the release of UK gross domestic product figures for the third quarter of 2009, which showed a 0.3 per cent contraction.
Posted by Greg Secker
