Sterling off two-week trough against dollar ahead of Carney's speech

Sterling rose in American trade off October 4 lows against the dollar, following a spate of data from Britain and the US today, and ahead of Bank of England Governor Mark Carney's speech in New York.

As of 04:06 GMT, GBP/USD rose 0.20% to 1.3044, with an intraday high at 1.3061, and a two-week low at 1.3012. 

Earlier UK data showed net public borrowing rose 3.3 billion pounds in September, adding to the 4.8 billion increase in August, while analysts estimated at 4.6 billion addition in deficit. 

On another note, US existing home sales fell 3.4% in September to an annualized 5.15 million units, compared to a 0.2% dip in August to 5.33 million, while analysts expected a 0.9% drop to 5.29 million units. 

The Federal Reserve recently released the minutes of its September 25-26 meeting, at which the Federal Open Market Committee voted to increase interest rates by 25 basis points for the third time this year to just below 2.25% as expected, while carrying on plans to normalize the balance sheet. 

The Fed forecast another rate hike this year, and three more next year, and another in 2020, as the economy blisters ahead.