Chronicle Editor
London — The dollar rose and Treasuries fell after better-than-forecast data bolstered speculation the US economy may be strong enough to prompt a Federal Reserve move. Gasoline spiked to the highest in two years as Harvey relentlessly pounded the energy-rich Gulf coast.
European stocks had followed most Asian equities higher as tensions surrounding North Korea eased.
The yen dropped as demand for safe-haven assets began to fade.
Every sector of the Stoxx Europe 600 Index advanced after President Donald Trump’s measured response to North Korea’s missile launch and comments from Kim Jong Un suggested the situation won’t escalate.
Kim said Wednesday the missile was fired in protest at annual military exercises between the US and South Korea. Coupled with Trump’s tempered remarks — the president said the US will consider “all options” in its response to the provocation — investors judged the standoff is unlikely to intensify, helping to underpin risk assets. — Fin24.
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