GBP/USD: Will US GDP Data Boost the Dollar vs. Pound?

The pound euro (GBP/EUR) exchange rate rises to a year-to-date high after a flat session yesterday.

The pound is advancing as investors look to the BoE rate decision where the central bank is set to hike rates to 4.5%.

BRC retail sales growth remains steady at 5.1% YoY in April, but this is not adjusted for inflation.

The euro falls as recession fears rise following weaker than forecast eurozone consumer confidence and tumbling German industrial output.

There is no high impacting eurozone economic data today. Investors will look towards speeches by ECB chief economist Philip Lane and and policymaker Isabel Schnabel.