Pound falls on weak data, euro at 28-month low

London

STERLING skidded to its weakest since early September 2013 against a rallying US dollar on Tuesday after data showed UK growth slowing in the third quarter, taking pressure off the Bank of England to raise interest rates.

The euro, meanwhile, slipped to a 28-month low of US$1.2211 after Greek lawmakers failed to reach a majority in favour of the official candidate in the second round of a parliamentary vote to elect a new president. That leaves open the possibility of early elections with the anti-bailout Syriza party likely to take power.