USD: Hurricane Irma not quite as bad as it might have been

Hurricane Irma continues to batter the US although the damage is not quite as bad as first feared. There are reports that this is because it hit Cuba first which has weakened its power. Although it is still a catastrophic event, Wall Street was prepared for more damage.

The dollar weakened a little more against sterling which continued where it had left off last week. It is another quiet day for economic data in the US, so any movements in the dollar today are likely to be influenced by events elsewhere.

Tomorrow we have the PPI data release and inflationary CPI data on Thursday. Friday sees the release of the core retail sales which will be watched intently for further clues on what the Federal Reserve is likely to do US interest rates in the near future.