Yen and euro outperform as stocks and oil slide

London

THE safe-haven yen and the low-yielding euro rose on Tuesday, as global stock markets and oil prices fell, driving investors to safety and away from commodity-linked and oil-related currencies such as the Australian and Canadian dollars.

The dollar index fell, with investors cautious before the outcome of the Federal Reserve's two-day policy meeting which was due to begin later in the day. Investors will be parsing the US central bank's message to determine what, if any, effect volatile global markets, plummeting oil prices and heightened fears of a Chinese slowdown will have on the Fed's previously stated intentions to continue raising rates this year.