Yen Rallies as Oil Drops Before Exporters Meet in Doha
- Currency's upside curbed by intervention bets: Credit Agricole
- Don't expect too much from gathering, says CIBC's Stretch
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The yen rallied, halting a three-day decline, as a drop in oil in the run-up to the OPEC meeting in Doha this weekend prompted investors to seek safer assets.
With speculation mounting that the talks will fail to secure an output freeze, U.S. crude trimmed a second weekly advance and shares in Europe fell for the first time in six days. The yen has climbed more than 10 percent versus the dollar this year, the best performance among its Group-of-10 peers, as a slowing world economy boosts its appeal as a haven.