Hurricane Harvey continues to take its toll on US

As the category 4 Hurricane “Harvey” continues to batter the Texas coast line, disaster analysts have upper their estimate for the cost of the destruction to $52 billion with some believing this cost could rise to $80bn. With much of the flooding in the state far from contained, estimates for the repair bill keep on building with some predicting that the bill could be in the top two most costly weather disasters in US history. With gas prices surging and crude futures in free fall as refineries and forced to shut down, the dollar is heading for its longest monthly losing streak in 14 years. President Trump has flown down to the region to assess the damage and offer his support to the 450,000 people estimated to be in need of federal aid.

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