1st LD Writethru: U.S. dollar rises against yen amid oil rebound

The U.S. dollar increased against the Japanese yen and Swiss francs on Tuesday as the rise in oil prices damped market appetite for safe-haven currencies.

Oil prices extended gains Tuesday as Saudi Arabia and Russia reached an agreement on a crude output freeze.

The West Texas Intermediate for May delivery moved up 1.81 U.S. dollars to settle at 42.17 dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery increased 1.86 dollars to close at 44.69 dollars a barrel on the London ICE Futures Exchange.

Due to the oil rebound, safe-haven assets including yen and Swiss francs declined against the greenback 0.55 percent and 0.10 percent respectively.

The dollar index, which measures the greenback against six major peers, was up 0.09 percent at 94.030 in late trading.

In late New York trading, the euro fell to 1.1388 dollars from 1.1409 dollars of the previous session, and the British pound climbed to 1.4266 dollars from 1.4247 dollars. The Australian dollar went up to 0.7679 dollars from 0.7610 dollars.

The dollar bought 108.60 Japanese yen, higher than 107.97 yen of the previous session. The dollar increased to 0.9555 Swiss francs from 0.9542 Swiss francs, and it inched down to 1.2760 Canadian dollars from 1.2897 Canadian dollars. Endit