The pound euro (GBP/EUR) exchange rate is falling, extending losses from last week.
The euro is gaining, but gains could be limited due to the weak economic outlook and expectations of an ECB rate cut.
ECB President Christine Lagarde is due to speak later and could provide more clues over whether the central bank could cut rates by 25 or 50 basis points next month.
The pound is falling, extending losses from Friday after UK GDP data showed the economy stalled in Q3.
UK GDP eased to 0.1% QoQ and fell -0.1% MoM in September.
Meanwhile, separate data showed that the number of businesses created in the UK fell, a warning sign for future growth and productivity.