Reuters

Oil prices edged lower on Monday on concerns that Hurricane Irma’s pounding of heavily populated areas of Florida could dent oil demand in the world’s top oil consuming nation.

Sterling rose to a three-and-a-half-week high against the euro on Monday, helped by speculation that the Bank of England may sound more hawkish on interest rates this week in defense of the currency.

The dollar remained mired near its lowest levels since early 2015 as European Central Bank President Mario Draghi’s suggestion that the ECB may begin tapering its massive stimulus program this autumn continued to underpin the euro.

The euro climbed to a 2-1/2 year high on Friday after European Central Bank’s comments did little to deter market bulls who ramped up bets the single currency remained broadly undervalued against its rivals.

Gold prices rose to their highest in more than a year on Friday as weak economic data reduced expectations of another interest rate increase in the United States this year.

Hurricane Irma, one of the most powerful Atlantic storms in a century, drove toward Florida on Friday as it lashed the Caribbean with devastating winds and torrential rain, leaving behind 14 deaths and a swathe of catastrophic destruction.

Asian shares firmed on Friday, supported by solid Chinese trade data, while the dollar skidded after European Central Bank President Mario Draghi suggested the central bank may begin tapering its massive stimulus program this autumn.

Oil prices rose on Friday as U.S. crude production was hit harder by Hurricane Harvey than expected, with the even bigger storm Irma heading for Florida and threatening to cause more disruption to the petroleum industry.

The euro reached a 2-1/2-year high versus the dollar on Friday, as a policy meeting by the European Central Bank gave bulls cause for short-term optimism.

Japan’s economic growth in the second quarter was much slower than seen in a stellar preliminary reading, government data showed on Friday.