LONDON (AFX) - The euro remained under pressure in thin midday trading, hovering around the 0.9400 usd level, as it continued to consolidate. After hitting a six-month high against the dollar last week, dealers said profit taking and position squaring weighed the single currency. "The euro gained quickly in a short period of time, and the market is now taking profits on that move," said Mitul Kotecha, global head of currency research at Credit Agricole Indosuez. With no key economic news scheduled until later this week, analysts expect the euro's consolidation to continue. But Kotecha added the currency's long-term trend remained bullish. Earlier, German December employment data had limited impact due to leaks on Monday. The seasonally adjusted unemployment rate was at 9.2 pct compared with 9.3 pct in November. In a research note, Marc Chandler, chief currency strategist at Mellon Bank in New York, said, "The data is consistent with the picture that emerged at the end of last year that the moderation in the euro zone growth is taking place, but at a slower pace than in the U.S." In the UK, sterling was little changed against the dollar, unable to rise above the 1.500 area. Investors await Thursday's Bank of England interest rate decision. Analysts widely expect the central bank to keep policy steady. The latest economic news was shrugged off. The British Retail Consortium said retail sales rose 3.4 pct year-over-year in December, compared with a 2.0 pct increase in November. Meanwhile, dollar/yen traded within recent ranges. Dealers said sentiment for the yen remained negative following weak consumption data. Household spending fell 1.3 pct year-over-year in November after a 2.0 pct decline in October.