FOREX-Dollar falls as oil, equities slide pushes investors to safe havens

Mon Jan 25, 2016 4:09pm EST
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(Updates data, adds quote)

* Dollar falls with oil; less risky currencies gain

* Euro, yen rise vs dollar as investors seek safety

* Canadian dollar down 1 percent

By Dion Rabouin

NEW YORK, Jan 25 (Reuters) - The dollar edged lower on Monday as renewed selling in oil markets drove investors into currencies often deemed less risky investments, such as the euro, Swiss franc and Japanese yen.

Crude oil futures fell 6 percent after Iraq announced record-high oil production, feeding into a heavily oversupplied market, and senior officials with the Organization of the Petroleum Exporting Countries (OPEC) signaled they were unlikely to reduce crude production unless non-OPEC countries did likewise.

U.S. stock indexes fell, following their European counterparts, dragged down by energy stocks.

"Oil recovered (last week) because some people were thinking that that was the bottom and started to buy back, but after the (OPEC) comments on Monday, again we're starting to see rapid decline in oil prices," said Alfonso Esparza, senior currency strategist at Oanda in Toronto.   Continued...