FXstreet.com (Córdoba) - The Pound bottomed during 2009 at 1.3502 on January and peaked at 1.7045 in August. A year ago GBP/USD closed at 1.4600/40, which shows that the Pound gained 10% during 2009. Cable failed during the second half of the year to break clearly above 1.7000 and weakened. The pair then pulled back to 1.5700 and moved between 1.6880 and 1.5820 since then.
During the first half of 2009 the UK economy was seen as the one with more possibilities of getting out of the recession first. But as the year went on the economic conditions proved to be much worst than expected, affecting the value of the Pound.
According to the ecPulse.com analysis team: With the first step out of the recession in the fourth quarter of 2009, we are to start compiling the rest of the puzzle pieces for UK's starting economic year. Expectations and growth projections varied from think tanks to the government, and though they all managed to unite on the fact that the rebound in UK or the global economy as a whole will not be robust this year; still the haziness revolving central projections was a reflection to heightened uncertainties regarding the outlook with risks tilted to the upside for a relapse in the path or recovery.