FOREX-Oil currencies dip, euro and yen gain

Mon Jan 25, 2016 7:28am EST
 
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* Canadian dollar, Norwegian crown hurt by oil fall

* Euro and yen both up against the dollar

* Worries Fed could signal concern about economic outlook

* Odds on Bank of Japan holding fire on further easing

By Patrick Graham

LONDON, Jan 25 (Reuters) - The dollar edged down on Monday as renewed selling on oil markets drove investors into their safe havens of choice, the euro and yen, and weakened the currencies of major crude exporters.

After an upbeat session in Asia, stock markets quickly turned negative in Europe and oil fell almost 3 percent, driving roughly half-percent falls in the Canadian dollar and Norwegian crown.

The oil price fall turned investors' focus back onto the broadly negative view of the outlook for the world economy that has dominated since the start of 2016.

That has tended to benefit the euro, yen and Swiss franc at the expense of the dollar.   Continued...