The pound euro (GBP/EUR) exchange rate recovered earlier losses to extend last week’s gains towards €1.1575.
The pound gained despite rising concerns over the outlook for the UK jobs market. A survey by the Chartered Institute of Personnel and Development showed private sector hiring intentions have fallen to their weakest level since the pandemic.
Official UK unemployment data is due tomorrow. Unemployment is expected to hold steady at 4.7%.
The EUR is falling amid a quiet day on the economic calendar. Attention is turning to the Trump- Putin summit at the end of the week to discuss Ukraine.
German ZEW economic sentiment data is due tomorrow.