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Pound hits 3-month low on jobs data and dollar's Trump rally - REUTERS
LONDON, Nov 12 (Reuters) - The pound fell to a three-month low after data on Tuesday showed regular wage growth cooled and unemployment ticked up, and as currencies felt the pressure of a surging dollar after Donald Trump's U.S. election victory.
Sterling fell as much as 0.5% to $1.2806, its lowest since Aug. 15, in early European trading. It was last down 0.44% at $1.2814.
The pound also slipped against the euro, with the single currency last up 0.2% to 82.97 pence .
Data on Tuesday showed British wage growth, excluding bonuses, fell in the third quarter to its lowest level in more than two years. Unemployment in September rose to 4.3%, from 4.1%, although low survey response rates have reduced the reliability of British jobs figures.
"The easing in private sector regular pay suggests that the Bank of England will continue to cut interest rates gradually," said Paul Dales, chief UK economist at consultancy Capital Economics.
"There is little here to suggest the Bank needs to worry that the loosening in the labour market and the easing in underlying wage growth are coming to an end."
The pound was already 0.3% lower before the data arrived, h
