The pound euro (GBP/EUR) exchange rate was unchanged on Monday.
The pound was subdued ahead of a busy week for UK economic data, including unemployment, inflation, retail sales, and business activity figures.
These reports will guide expectations on whether the Bank of England cuts rates in March or April. Unemployment is forecast to rise from November’s 5.1%, but wage growth remains strong at 4.7%, fueling service inflation.
A tight BoE vote last month lowered the bar for further cuts, with Wednesday’s CPI key.
The euro is steady as eurozone industrial output fell 1.4% MoM, down from a downwardly revised 0.3% in November.
The data is not likely to impact ECB policy, which is set to remain unchanged this year.