The pound-euro (GBP/EUR) exchange rate is holding steady below €1.1750 after small losses last week.
Eurozone manufacturing PMI expands at the fastest pace in 14 months as the manufacturing PMI rises to 47.3, although this is down slightly from the 47.4 preliminary reading.
The data comes ahead of the ECB rate decision on Thursday where the central bank is widely expected to cut interest rates by 25 basis points.
The pound is falling after small gains last week. UK manufacturing activity rose to 51.2 in May, up from 49.1 in April and its fastest growth since 2022.
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