[GBP/USD]

[GBP/USD]rose to an intial intraday high of 1.4720 before sellers brought the pair to an initial intraday low of 1.4636. The pair crept back up to an o/n high of 1.4732 after talk of a move away from the USD dollar as a global reserve currency but Geithner's clarifying his earlier comments made a clear commitment to maintain the Greenback as a key reserve currency sent the pair tumbling to an o/n low of 1.4550. UK data saw March CBI retail sales falling to -44 from -25 prev pointing to continued deterioration in the UK economy also weighed on the pair.