Outlook for the British pound on Wednesday the 11th of June

The British pound sterling (Currency:GBP) approaches the close of the London equity markets with some momentum after staging a recovery through Tuesday's session.

The pound euro exchange rate is 0.04 pct in the red at 1.1743 - well above 1.17 once more after threatening the top 1.16's. The pound US dollar rate is flat at 1.5575 - again a recovery on early numbers.

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The outlook for the British pound is dominated by the UK's latest unemployment data release.

At 9:30 the ONS releases the Claimant Count Change for May. "The Claimant Change released by the National Statistics presents the number of unemployment people in the UK. There

is a tendency to influence the GBP volatility," say Alpari UK.

Consensus is for a decline in claimants by 5000, less than last month's improvement to 7000.

At 10AM Paul Fisher of the Bank of England speaks, Fisherhas been the Bank of England's Executive Director for Markets since March 2009.

For the pound to euro exchange rate tomorrow could be particularly volatile as the German Constitutional court is scheduled to rule about the legality latest ECB’s bond buying program, the OMT.