The GBP/USD pair saw some nervous trading, falling down to 1.3894 and peaking for the day at 1.3997, but settling late US afternoon around 1.3930, pretty much unchanged daily basis. The early decline came alongside with the UK CBI Distributive Trade Survey on realized sales for April, which fell 2% against an expected advance of 5%. Sales were below average for the time of year for the second month in a row, according to the official report, albeit at to a lesser extent than in the year to March. Retreating yields helped the pair bounce and correct up to the 1.4000 region, where strong selling interest rejected it. ... (full story)