Oil futures jumped by a dollar in early trading on Monday as a potential hurricane system approached the U.S. Gulf Coast, and as markets recovered from a selloff following weaker-than-expected U.S. jobs data on Friday.

The dollar held to tight ranges on Monday while the yen pared its safe-haven gains, as investors were undecided on the scale of a Federal Reserve rate cut expected later this month and looked to this week's U.S. inflation reading for more clues.

Asian shares clung to tight ranges and the dollar nursed losses on Friday, with investors on tenterhooks ahead of U.S. jobs data that could decide the size and speed of coming rate cuts in the world's largest economy.

Britain needs an additional one trillion pounds ($1.3 trillion) in investment in the next decade to grow the economy, a report said on Friday.

Japanese household spending rose less than expected in July as consumers remained wary of loosening their purse strings in the face of higher prices, possibly complicating the central bank's plans to hike interest rates further in coming months.

U.S. Treasury Secretary Janet Yellen said on Thursday that the U.S. still has a "good healthy labor market" even though the pace of job creation has slowed in recent months.