• The dollar caught its breath in early Asian trading on Monday, pulling away from last week’s lows against its major rivals after the weekend passed without any missile launches by North Korea.
The dollar added 0.5 percent against its perceived safe-haven Japanese counterpart to 108.38 yen, moving away from a 10-month nadir of 107.32 yen touched on Friday. The yen tends to benefit during times of economic and political uncertainty due to Japan’s net creditor nation status.
The dollar index, which tracks the U.S. unit against a basket of six major currencies, was 0.2 percent higher at 91.524, after skidding to a 2-1/2 year low of91.011 on Friday.
• U.S. President Donald Trump said on Saturday that he will ask the Republican-controlled Congress to further speed up its efforts to overhaul the U.S. tax code, citing the potential impact of Hurricane Irma as a reason to hasten reforms.
• U.S. President Donald Trump called Hurricane Irma “some big monster” as it battered the Florida coast, saying he wants to go to the state very soon and praising emergency officials for their efforts to protect people.
Hurricane Irma’s path of destruction up Florida’s Gulf Coast on Sunday threatens to disrupt a thriving state tourism industry worth more than $100 billion annually just months ahead of the busy winter travel season.
About 1.1 million homes and businesses have lost power in Florida as Hurricane Irma pummeled the southern part of the state, Florida Power & Light (FPL) said on Sunday.
• North Korea warned on Monday the United States would pay a “due price” for spearheading a U.N. Security Council resolution against its latest nuclear test, as Washington presses for a vote on a draft resolution imposing more sanctions on Pyongyang.
• Oil prices edged up on Monday after the Saudi oil minister discussed the possible extension of a pact to cut global oil supplies beyond March 2018 with his Venezuelan and Kazakh counterparts.
U.S. crude for October delivery CLc1 was up 29 cents, or 0.6 percent, at $47.77, having tumbled 3.3 percent on Friday.
London Brent crude for November delivery LCOc1 was up 23 cents, or 0.4 percent, at $54.01 a barrel by 0023 GMT, having settled down 1.3 percent.
Reference: Reuters, CNBC, Bloomberg
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