The pound euro exchange rate is slipping towards €1.16 after gains last week.
The euro is supported by better-than-expected German trade data, as both imports and exports rose more than forecasted.
However, gains in the euro are being limited by a fall in retail sales. Sales fell -0.3% MoM after rising 0.4% in October. Consumer confidence also ticked higher to -15, up from -15.1.
The pound is driving lower amid a lack of fresh high-impacting data.
The REC survey showed that the labour market improved slightly in December compared to November. UK unemployment data is due later this week.