GBP/USD U.S. Jobs Data May Seal the Deal on June Rate Hike and Boost Dollar

The Pound Euro (GBP/EUR) exchange rate is rising on Tuesday after a weak start to the week.

The Pound fell hard yesterday after UK GDP data showed the economy unexpectedly contracted -0.3% in April, MoM.

Today UK unemployment data is expected to show a tick higher to 3.8%.

The Euro gained yesterday versus the pound supported by rising expectations of a 50 basis point rate hike in September.

Today German ZEW Economic sentiment data is expected to show a slight improvement to -27.5 up from 34.3 and the second reading of German inflation is due.