LONDON, June 3 (Reuters) - The pound eased broadly on Monday, as investors took profit on sterling's best monthly performance against the dollar this year in May and awaited key events and data globally this week.

Sterling, which rose 2% against the dollar last month, was down 0.2% on Monday at $1.2717. The euro, which fell 0.2% against the pound in May, was up 0.2% on the day at 85.22 pence.

This week brings few UK-centric catalysts to drive sterling, but plenty of other data and events that could move the euro and the dollar.

The European Central Bank meets on Thursday and is all but certain to deliver its first interest rate cut since 2019.

Markets currently expect around 57 basis points' worth of easing from the ECB in 2024, compared with around 33 bps from the Bank of England.

Two-year gilts command a premium of around 130 bps to German two-year Schatz yields, the smallest in about six weeks.

In the United States, monthly employment data throughout the week dominates the macro calendar, culminating in Friday's nonfarm payrolls report that could prompt investors to adjust their current expectation for little more than one rate cut from the Federal Reserve this year.

Pepperstone strategist Chris Weston notes the BoE Decision Makers Panel (DMP) is due on Thursday, which he says could explore the recent moderation in price and wage pressures.

Recent data has shown British inflation has retreated in recent months, although not by as much as some had forecast, which has curbed expectations for the number of rate cuts the BoE might deliver this year.

There is also a layer of political uncertainty stemming from early July's general election. The BoE holds just one meeting before then, on June 20.

"UK swaps don’t see a chance of a cut from the BoE until September, so the guidance here could influence rates and by extension the pound," Weston said.

"On the election front, we see the first televised leaders debate on Tuesday (9 p.m. UK time), but this shouldn’t swing the polls too intently and therefore shouldn't be a volatility event for the pound," he added.

(Reporting by Amanda Cooper; Editing by Susan Fenton)