GBP/EUR: the pair is holding above €1.1950

The euro pound exchange rate is down a few points but remains above €1.1950.

The pound regained its earlier losses on Monday as market sentiment improved slightly on news that Russia would continue talks with the United States and NATO.

Today, UK employment data is front and center. Unemployment is expected to hold steady at 4.1% in December as Omicron hits the economy.

The euro came under pressure yesterday after a dovish speech by ECB President Christine Lagarde.

Today, the focus will be on Eurozone Sterling Q4 data and German ZEW Economic Sentiment numbers.

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