Dollar higher but traders remain cautious as short bets spike

Dollar bounces from worst week in 2 months as risk-on mindset returns

The trade-weighted index fell to 75.17 from 75.59 in NY. It rose 25 points, or 1.1 percent, to 2,488 as of 12:55 p.m.

The S&P 500 hiked 26.68 points, or 1.1%, to 2,488.11, a record. Nasdaq-100 futures futures rose 35 points, or 0.6%, to 5,959.50.

Meanwhile, concerns about Hurricane Irma's impact on the US economy decreased.

The group was up 0.6 percent, with Brookfield Asset Management rising 1.7 percent to C$48.18, Fairfax Financial Holdings Ltd advancing 2.5 percent to C$611.29. The contract skidded $1.61, or 3.3 percent, to settle at $47.48 a barrel on Friday. They climbed last week after investors anticipated their business could pick up as homeowners were affected by the storm.

The dollar climbed from its as risk-on sentiment returned after North Korea marked the 69th anniversary of its founding on Saturday without any further missiles or nuclear tests easing demand for safe haven currencies like the yen and Swiss franc.

Rising tensions between the US and North Korea have weighed on stocks in recent weeks and raised the prices of gold and bonds.

The dollar index, which tracks the U.S. unit against a basket of six major currencies, was 0.2% higher at 92.51, after skidding to a 2-1/2 year low of 91.011 on Friday.

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In commodity markets, gold softened 0.7 per cent to 1,337.81 dollars an ounce and away from a one-year peak of 1,357.54 dollars. Those companies tend to do better when bond yields are falling, as investors see them as an alternative to bonds due to their large dividend payments. Apple, which will unveil its newest iPhone on Tuesday, rose $2.92, or 1.8 percent, to $161.55 and Facebook rose $2.33, or 1.4 percent, to $173.28.

In the tech sector, BlackBerry picked up 15 cents, or 1.4%, to $11.09, while Constellation Software added $3.02 to $682.20.

The U.S. dollar hovered at 108.42 yen, up from Friday's 10-month trough of 107.32. The euro slid to $1.1964 from $1.12028.

Among fallers, precious metals miners Fresnillo and Randgold Resources were on the back foot as the price of safe-haven gold fell, while shares in Primark-owner Associated British Foods were the biggest FTSE decliners, down 5 percent after giving a full-year trading update.

OVERSEAS: Germany's DAX gained 1.4 percent and the French CAC 40 rose 1.2 percent. Britain's FTSE 100 advanced 0.6 percent to 7,418.74.

WALL STREET: Japan's benchmark Nikkei 225 index jumped 1.4 percent to close at 19,545.77 as the yen came off recent highs against the dollar, easing pressure on exporters.

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