US Dollar Stabilizes After Sharp Fall. North Korea fired a missile on Friday that flew over Japan’s northern Hokkaido far out into the Pacific Ocean, South Korean and Japanese officials said, further ratcheting up tensions after Pyongyang’s recent test of a powerful nuclear bomb. The U.S. dollar fell sharply against the safe-haven yen and Swiss franc in early Asian hours, though it stabilized quickly, as the missile launch did not catch the market entirely off guard, as North Korea was expected to react after the latest U.N. Security Council sanctions.
British Pound Runs Higher on Carney Comments. Sterling climbed to fresh one-year high of $1.3407 against the Dollar and near-two-month highs against the Euro after Bank of England Governor Mark Carney gave his positive comments on the possibility of the first U.K. interest rate hike in a decade.
Oil Prices Set for Weekly Gains as Demand Outlook Brightens. Oil prices jumped, with international benchmark Brent futures hitting a five-month high, supported by a string of reports forecast the market would tighten further as fuel demand increased.
