FOREX-Dollar gains as oil recovers, but Fed uncertainty limits upside

Mon Dec 14, 2015 4:08pm EST
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(Updates prices; adds comment)

* Oil recovers, up nearly 2 percent

* Safe-haven yen boosted on subdued risk appetite

* Fed policy meeting eyed

* Yuan weakens further after China launches trade-weighted index

By Gertrude Chavez-Dreyfuss

NEW YORK, Dec 14 (Reuters) - The dollar edged higher on Monday, helped by a recovery in oil, although nervousness about what the Federal Reserve will say in its post-meeting statement after a widely expected rate hike limited the greenback's upside.

The rebound in U.S. crude oil in the afternoon improved risk appetite a bit, spurring some selling in traditional safe havens like the Swiss franc and helping the dollar cut its losses against the yen, another safe haven.

"Oil is certainly a factor, up nearly 2 percent, but I just think the market is really restless and fidgety ahead of the Fed," said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington.   Continued...