The White House has reportedly settled on a sanctions package to punish Turkey for receiving parts of a Russian missile defense system. We learned that the U.S. is preparing to announce them later this week. But the expectation among lira traders is that the economic impact will be minimum.
ASEAN Foreign ministers have opened a regional meeting in the Philippines capital, stressing the need for partnership. But with North Korea in attendance, its recent missile tests are likely to dominate discussions.
Democratic Senator Dianne Feinstein said on CBS 'Face the Nation' that North Korea's latest missile test presents a 'clear and present danger' to the U.S, as the North develops missiles that may go as far east as Chicago. She hoped that the new White House Chief of Staff John Kelly, who is replacing Reince Priebus, will begin 'serious negotiation' with North Korea to stop the program.