The GBP/USD pair refreshed daily tops in reaction to weaker US Retail Sales figures, with bulls now awaiting a sustained move beyond the 1.4100 mark. The pair managed to regain positive traction on the last trading day of the week and build on the overnight rebound from the key 1.4000 psychological mark. The uptick was exclusively sponsored by the emergence of some fresh selling around the US dollar, which was being weighed down by declining US Treasury bond yields amid dovish Fed expectations.
The intraday USD selling picked up pace during the early North American session following the disappointing release of US monthly Retail Sales figures for April. In fact, the headline sales remained virtually unchanged during the reported month, marking a sharp deceleration from March's upwardly revised reading of 10.7% (9.8% estimated previously).