Sterling falls to 5-month low versus dollar

LONDON: Sterling fell to a five-month low against the dollar on Monday, staying under selling pressure after data last week showed the UK economy shrank much more than forecast in the fourth quarter of 2012.

The pound lost 0.5 percent to hit $1.5716, its lowest since late August.

Traders also said reports that the incoming Bank of England governor Mark Carney, who takes up his post later this year, may take more aggressive measures to boost growth were helping to weigh on the pound.