The dollar gained ahead of data on the US jobs market today, with expectations growing of positive feedback.

This morning the dollar was at 1.7375 against the pound and at 1.1917 to the euro.

With the US jobs market being tipped to show signs of growth after some encouraging economic data of late, there is growing momentum for further interest rate hikes.

KBC currency strategist Peter Fontaine told Reuters that all eyes were on the employment figures from the US.

"Everyone is waiting for payrolls data. If the data is weak, then it will boost euro/dollar and push euro/sterling higher," he explained.

The Federal Reserve has raised the rate for the last 14 sessions and now looks likely to continue the process.