Oil currencies fall, euro and yen gain

London

THE US dollar edged down against a basket of currencies on Monday as renewed selling on oil markets drove investors into their current safe havens of choice, the euro and yen, while weakening the currencies of major crude exporters.

After a reasonably upbeat session in Asia, stock markets quickly turned negative in Europe and oil was down almost 3 per cent, driving roughly half per cent falls in the Canadian dollar and Norwegian crown.