Dollar Drifts Lower Against Yen As Investors Shun Risky Assets

Falling oil prices are driving a slight bid in the Japanese currency, strategists say Falling oil prices helped support haven bids in the yen on Monday as Japanese stocks weakened while expectations for a slower pace of Federal Reserve interest-rate hikes sapped demand for the dollar. The Nikkei 225 slipped 40.89 points, or 0.3%, 16,123.27. U.S. stocks were flat. "The yen is finding a little bit of support here from that slightly risk-off mood in markets," said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange. However, Esiner said he expected the yen's strength to be short-lived as data ... READ MORE