Commodity-linked currencies held steady on Thursday following an agreement by OPEC to cut oil output in the first deal of its kind since 2008, lifting oil prices with a broad gain in risk assets weighing on the yen.
The Organization of the Petroleum Exporting Countries announced that it would reduce output to a range of 32.5-33.0 million barrels per day, a reduction of 0.7-2.2 percent from OPEC estimates of its current output at 33.24 million bpd.
The Canadian dollar jumped higher overnight driven by the boost in oil prices and reflecting the importance of oil on the Canadian currency. USD/CAD slipped to 1.3045 overnight following Wednesday's 0.9 percent drop, its largest in a month.
USD/JPY rose to 101.74, extending its rebound from a one-month low of 100.085 touched on Tuesday.
The dollar has been punished against the yen lately as forex investors grew increasingly skeptical of the Bank of Japan's ability to ease policy and cheapen the yen, with many participants judging its stimulus measures as being ineffective going forward.
EUR/USD was little changed around 1.1220, recovering from Wednesday's low of 1.1182 aided in part by a bounce in Deutsche Bank shares.
