Sterling climbs to two-week high

Sterling rose on Monday to a two-week high as the dollar fell against major rivals and ahead of Bank of England Governor Mark Carney's speech today.
 
GBP/USD last traded at 1.2714, up from the opening of 1.2670, with an intraday high at 1.2745, and a low at 1.2656.
 
Sterling's rise comes as the dollar declines against main currencies, setting a two-week low, which helped the pound rise today.
 
Markets await BoE Governor Carney's speech today on the coming monetary policies, with expectations of no change as growth, inflation expectations settle for the time being.
 
On the other hand, expectations are rife that the Federal Reserve will hike interest rates this December, which keeps the pressure on the pound due to policy divergence with BoE.