After an initial move higher, the pound euro (GBP/EUR) exchange rate is falling, dropping below 1.16.
The pound is edging lower after strong gains across the past three weeks and as the market mood sours.
Rising COVID cases in China has hit risk sentiment across the board, even as UK black Friday data improved from the previous year.
There is no high impacting UK due today, this week is a quiet week for UK data.
The euro is pushing higher after losses last week. The euro fell despite encouraging German GDP data and business confidence figures.
ECB’s Christine Lagarde is due to speak later and could provide clues on the direction of monetary policy.