Photoshop text editing shows preview offset.

Sorry for my late response - been away on holiday. In answer to your comments;
Jane, this was just dummy text to show an example of what's happening but thank you for your comment. Unfortunatly I'm having difficulty replicating the problem.  If this issue continues/comes back I'll add comments again. Thank you all again for your comments.

@raymondsmithy 

In addition to what's been said, you have very tight leading. Typical leading is typesize plus two, so 40 pt text should start with 42 for the leading, and adjust from there. You can change it in the Character panel (Window menu). Select your text first.

Jane

Hi @raymondsmithy, checking to see if your issue was solved with Derek's suggestion?

Thank you,

Thanks Derek. I'll give that a go. 

It might be worth resetting the Photoshop preferences, which you can do under the General tab in Photoshop preferences.

The Character panel (Window > Character) will give you access to change a number of your selected font features, such as size, leading, colour and more.