Reuters

The dollar came off a 2-1/2 year low and world stocks rose on Wednesday after the United States’ measured response to North Korea’s missile test soothed jittery investors who turned their focus to positive economic data.

Crude oil slid and gasoline jumped to its highest since mid-2015 on Wednesday as flooding and storm damage from Hurricane Harvey shut nearly a fifth of U.S. refineries, curbing demand for crude while raising the risk of fuel shortages.

The dollar held steady against the yen on Wednesday, having recovered from 4-1/2 month lows, as investor concerns over North Korea’s latest missile test eased for now.

Sterling rose to two-week highs against the dollar on Tuesday after escalating tensions in the Korean peninsula added to the greenback’s woes.

Gold prices rose for a third day on Tuesday to its highest since November as mounting geopolitical tensions over a new North Korean missile launch stoked demand for safe-haven assets.

The dollar slumped to a four-month low against the yen early on Tuesday after North Korea fired a missile that passed over northern Japan,

An already weak dollar dropped to 16-month lows against a basket of major currencies on Monday, as flooding caused by Tropical Storm Harvey paralyzed the United States’ fourth-biggest city and drove worries about a hit to the economy.

U.S. gasoline futures jumped to two-year highs while an already weak dollar hit 16-month lows against a basket of currencies on Monday as Tropical Storm Harvey pummeled the heart of the U.S. energy sector and raised concerns about the economy.

Oil markets were roiled on Monday after Hurricane Harvey wreaked havoc along the U.S. Gulf coast over the weekend, knocking out numerous refineries and some crude production.

The euro extended gains to a 2-1/2-year high against the dollar on Monday after the European Central Bank president held back from talking down the currency.