Sterling fell versus the euro and the dollar on Wednesday after the release of weaker than expected UK pay growth data and a Bank of England report that showed only one BoE member voting for a rate hike this month. Some analysts had expected two Bank of England Monetary Policy Committee (MPC) members to vote for an interest rate hike. Average British earnings growth unexpectedly eased in the three months to March on a year ago, official data showed. "We do not think the MPC is in any hurry to change rates, but if consumption growth does not pick up, we could be looking at a rate cut by the end of this year," said Philip Shaw, chief economist at Investec.