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According to Reuters, the single currency has dropped by 0.4 per cent to stand at 84.68 pence due to investors focusing on euro zone debt issues before a meeting of European finance ministers.
Christian Lawrence, currency strategist at RBC Capital Markets, said the next few days are set to be very important in the market.
He added: "Sterling is being overshadowed by what is happening in the euro zone."
What's more, there was support for the euro around 84.00 pence and also at 83.34 pence, while the pound decreased by 0.4 per cent against the dollar to $1.5716.
This was helped by the US jobs report coming in better than expected on Friday.
The release of this data from the Labor Department also revealed the unemployment rate had increased to 9.8 per cent.
Posted by Greg Secker
