Sterling hits eight-month peak vs. dollar

Sterling rose for the fourth session in a row against the dollar, hitting its highest since September 29 following earlier data from Britain and America. 

As of 05:23 GMT, GBP/USD rose to 1.3004 from the opening of 1.2970, with an intraday low at 1.2937, and an eight-month high at 1.3048. 

Earlier U.K. data showed retail sales up more than expected on a monthly basis in April, while accelerating on a yearly basis, as core sales also rose past expectations last month. 

Otherwise, U.S. unemployment claims fell to a three-month low while the Philly manufacturing index rose to its highest since February, as U.S. treasury secretary testified ahead of the Senate Banking Committee to talk about the rollback of Dodd-Frank.