* Yen off recent peaks after oil gains underpin risk
appetite
* Canadian dollar hits 9-month highs, Aussie near 2016 peak
* Upbeat China trade data help Aussie extend gains
* Oil prices extend gains on production freeze hope
(Updates prices, adds details and quotes)
By Ian Chua and Shinichi Saoshiro
SYDNEY/TOKYO, April 13 (Reuters) - The safe-haven Japanese
yen slid from recent peaks against the greenback on Wednesday as
solid gains in oil prices helped underpin risk appetite.
With hopes of a production cap agreed by top producers
Russia and Saudi Arabia back in play, global oil prices climbed
to four-month highs overnight.
"The dollar gained along with the Australian dollar as risk
appetite improved in the broader financial markets. What was
eye-catching was that the dollar rose without support from
Japanese officials' jawboning," said Masafumi Yamamoto, chief
forex strategist at Mizuho Securities in Tokyo.
The greenback rose as high as 108.905 yen JPY= , having
climbed from a near 18-month trough around 107.63 set on Monday.
The yen has mostly brushed off recent comments by Japanese
officials warning that a rapid appreciation by the currency was
unwelcome.
The euro rose to 123.85 yen EURJPY=R , putting further
distance from a three-year low of 122.085 set last month.
The Canadian dollar hovered just under a nine-month peak,
having rallied along with other commodity currencies such as
the Australian dollar on higher oil prices.
Canada's loonie stood at C$1.2760 per USD CAD=D4 , not far
from the overnight high of C$1.2750 - a level last seen in July.
Also helping the currency, the Bank of Canada is widely
expected to hold interest rates at 0.5 percent following its
meeting on Wednesday. After a run of better-than-expected
economic data at the start of the year, the central bank is also
likely to raise its growth forecasts.
Other commodity currencies were also firmer with the
Australian dollar up 0.4 percent at $0.7711 AUD=D4 , nearing
its 2016 peak of $0.7723 set a few weeks ago.
The Aussie extended gains as upbeat China trade data
favoured risk appetite. Chinese exports in March rose a much
stronger-than-expected 11.5 percent, the first increase since
June and largest gain since February 2015. ECONCN
The Norwegian crown pulled back slightly to 8.1718 per
dollar NOK= after advancing to a six-month high of 8.1225 on
Tuesday.
The euro was subdued in contrast. The common currency eased
0.2 percent to $1.1369 EUR= after turning around from a
six-month peak of $1.1465. That helped the dollar index .DXY
climb back above 94.000, from a near eight-month low of 93.627.
"Given that the market is quite short USD against the EUR
and JPY, and with U.S. inflation data also likely to be on the
firm side on Thursday, we expect the USD's corrective recovery
against the core majors to extend a little further this week,"
analysts at BNP Paribas (PA:BNPP) wrote in a note to clients.