Greenback slips before Fed and BOJ meetings

London

THE dollar fell from a two-week high on Monday, with a stronger oil price the chief theme in a market battening down the hatches ahead of central bank policy meetings in Japan and the United States.

Commodity-linked currencies including the Canadian, Australian and New Zealand dollars were all half a per cent higher in early trade in Europe as crude rose 1.5 per cent on the back of speculation about Opec (Organization of the Petroleum Exporting Countries) production controls.

The yen also gained around a third of a per cent against the dollar and the euro, helped by expectations that any policy announcement by the Bank of Japan (BOJ) this week would stop short of the sort of dramatic action needed to weake…