Sterling under pressure on Theresa May’s woes and UK car sales

Sterling fell to the lowest point in nearly a month as reports speculated that UK prime minister Theresa May could face a leadership rebellion from within her own party and new figures showed a slump in UK car sales.

The UK currency declined against all of its major peers, including dropping at one stage 0.5% to 89.2 against the euro.

Traders said that a large part of the slump in the pound was data-driven.