The pound ended the month reversing some of its gains after a sell-off amid fears of a growth in US-China tensions. Sterling is sensitive to these trends, and a reduced appetite for risk has not done it any favours.
Also not helping matters were manufacturing figures, which fell to their lowest level in more than three decades. On the positive side, the housing market was shown to be in better health than forecast. Nationwide house prices are up 3.7% year on year, but are also still growing month on month, despite expectations of an entry into negative territory.
