Good morning,
On Friday the GBPUSD rate reached 1.4233 which is the highest we have seen since April 2018. The cause of sterling’s strength was ultimately two-fold. The UK reported much better than anticipated April Retail Sales. According to the official report, sales were up 9.2% MoM and 42.4% YoY. UK Prime Minister Boris Johnson also said he remains confident the kingdom will continue moving toward full reopening by the end of June, despite the rapid increase of the coronavirus Indian strain.
However, after reaching highs the US dollar fought back strongly and we ended the session at 1.415. Figures released showed business activity in the US manufacturing sector continued to expand at a robust pace in May. Also, a rebound in US yields contributed to the rally of the greenback.
The EU was given a boost after German services activity rose by the most in nearly a year in May, helped by a loosening of COVID-19 restrictions. French business activity also surged past expectations in May.
At 3:30 today Bank of England Governor Andrew Bailey is due to testify, along with other Monetary Policy Committee members, on the Bank of England Monetary Policy Reports.
Have a great day. 
William Jones, Senior Relationship Manager.
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References
https://www.globalbankingandfinance.com/lockdown-lifting-unleashes-french-business-boom-in-may-pmi/