Sterling was among the biggest fallers in forex trading yesterday (September 1st), with weaker than expected manufacturing and lending data pushing the pound lower.Analysts reacted cautiously to figures showing that manufacturing orders dropped in August, while total net lending was also down, with many investors seeking haven in the dollar and the yen.Speaking to the Financial Times, Isabelle Job, an analyst at Calyon, explained that traders were concerned that the weak data would have an unfavourable impact on the Bank of England's monetary policy strategy."This setback in the manufacturing index will bolster the Bank of England's cautiousness. Downside risks to growth have not completely disappeared and the recent dissent for a larger extension of quantitative easing could intensify," she claimed.Meanwhile, equities also slumped during trading yesterday, leading analysts to foretell the end of the summer shares rally.The Times reports that there is cautiousness on trading floors as senior traders return to their desks to scrutinise the upward movement seen on the FTSE since March.