* Yen and euro weakened by gains in stocks
* Oil dips after big gains on Tuesday
* Canadian dollar pulls back from 9-month highs
* Bank of Canada eyed for comments on C$ rally
(Updates prices, adds details and quotes)
By Patrick Graham
LONDON, April 13 (Reuters) - A boost for commodity-reliant
currencies from Tuesday's jump in oil prices faded in early
trade in Europe on Wednesday, while the dollar was up almost
half a percent against the euro and yen, hitting a one-week high
against the single currency.
Oil was down almost 2 percent on the day, driving roughly
half percent falls in the Norwegian crown and Australian and
Canadian dollars. EURNOK= CAD= AUD= O/R
It remains well above $40 a barrel, which has allowed all
three to recover from long-term lows hit in January.
This week's gains seem more to do with the prospect of
producers imposing limits on output than a move away from the
economic gloom that has pervaded financial markets this year and
driven capital into the perceived safety of the yen.
But some stronger data out of China and an improved tone to
stock markets on Wednesday was enough to weaken both the
Japanese currency and the euro.
"Oil prices have come up and that has led to tighter credit
spreads and in the end stronger equity markets," Constantin
Bolz, director for FX strategy with UBS Wealth Management in
Zurich, said.
"That also led to dollar-yen finding a bottom and in general
to a slightly stronger dollar."
The yen was down 0.2 percent at 108.82 against the dollar,
having stalled at its strongest in 17 months, 107.61 yen JPY= ,
on Monday.
The dollar rose as high as $1.1343 per euro EUR= , its
strongest in a week, before settling at $1.1360. The dollar
index of its strength against a basket of currencies was up a
third of a percent at 94.236.
After the IMF's latest warning on the world economy and the
potentially "severe" impact of a British vote to leave the
European Union, eyes will be on G20 meetings in Washington for
signs of how policymakers will proceed from here.
The day's big set piece is the Bank of Canada's interest
rate decision and updating of its economic forecasts, which come
after a strong run higher for the Canadian dollar.
No change is expected in interest rates but the meeting will
be watched closely for any attempt to talk the currency down.
"Although the BoC may not have wanted CAD to appreciate 13
percent over the past three months, the BoC probably won't want
to challenge most of the key tenets of the new optimism that has
made CAD the second strongest G10 currency in 2016," analysts
from Canadian bank BMO said in a note.
The Canadian dollar stood at C$1.2782 per dollar CAD=D4 ,
not far from an overnight high of C$1.2750 - a level last seen
in July.