FOREX-Dollar languishes near 3-month lows, bitcoin perks up - Reuters

    * Dollar down 0.26% for day, holds above Friday low
    * Euro gains 0.34%, continuing its gain on dollar
    * Bitcoin perks up after wild weekend
    * Graphic: World FX rates tmsnrt.rs/2RBWI5E

 (Adds new analyst comment, updates prices; previous LONDON)
    By David Henry and Iain Withers
    NEW YORK/LONDON, May 24 (Reuters) - The dollar languished near four-month lows against major currencies
on Monday as bets on a robust global economic recovery continued to support currencies seen as riskier.
    The dollar index moved around the 90 mark, down 0.26% on the day in morning trading in New York,
slightly above a four-month low on Friday of 89.646.
    Since the end of March, the greenback, seen as a safe-haven trade, has retreated steadily with optimism
about the global economic recovery. But lately that move down seems to have slowed as traders begin to
anticipate higher U.S. interest rates coming when the U.S. Federal Reserves reacts to signs of increasing
inflation.
    "Markets have to start pricing in a slightly more hawkish Fed going forward," Win Thin, global head of
currency strategy at Brown Brothers Harriman wrote on Monday morning.
    Data due on Friday, including U.S. personal consumption and inflation figures, could move the markets to
anticipate a more hawkish tone from the next Fed policy meeting on June 15-16. But for now, Thin said, "the
dollar is coming under some modest pressure as the week begins."
    Yields on benchmark 10-year U.S. Treasury notes were steady around 1.61% on Monday morning. 
  
    Traders are also watching for progress on a new stimulus package in the United States, after the White
House pared down its infrastructure bill to $1.7 trillion on Friday but failed to gain Senate Republican
backing.
    Among the currencies gaining on the dollar was the euro, up 0.34% to $1.222. The single currency has
gained around 4% on the greenback since March as Europe has moved to catch up with the United
States in vaccinating its people and reviving its economy.
    Cryptocurrencies fought back on Monday, retaking ground lost during a bout of weekend selling that was
fueled by further signs of a Chinese crackdown on the emerging sector.
    Bitcoin rebounded 8% to $37,629, but was still down after crashing in recent days, falling as much as
17% to $31,107 on Sunday.
    Bitcoin halved in value just weeks after April's record peak of $64,895, undermining the case for its
mainstream acceptance.
    The catalyst for Sunday's slump was that cryptocurrency "miners," who mint cryptocurrencies by using
powerful computers to solve complex math puzzles, were halting Chinese operations in the face of increasing
scrutiny from authorities. 
    Ether, the second-largest cryptocurrency, rose 14% to $2,385, about half of its high two weeks
ago.
    ========================================================
    Currency bid prices at 10:00AM (1400 GMT)
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct       High Bid    Low Bid
                                              Previous                   Change                   
                                              Session                                             
 Dollar index                 89.7860        90.0330     -0.26%         -0.217%       +90.1080    +89.7970
 Euro/Dollar                  $1.2223        $1.2182     +0.34%         +0.05%        +$1.2224    +$1.2172
 Dollar/Yen                   108.7750       108.9600    -0.17%         +5.28%        +108.9900   +108.7000
 Euro/Yen                     132.94         132.70      +0.18%         +4.74%        +133.0400   +132.5300
 Dollar/Swiss                 0.8959         0.8979      -0.19%         +1.30%        +0.9002     +0.8960
 Sterling/Dollar              $1.4162        $1.4159     +0.03%         +3.67%        +$1.4171    +$1.4113
 Dollar/Canadian              1.2053         1.2064      -0.08%         -5.34%        +1.2085     +1.2052
 Aussie/Dollar                $0.7749        $0.7730     +0.27%         +0.76%        +$0.7751    +$0.7706
 Euro/Swiss                   1.0949         1.0936      +0.12%         +1.31%        +1.0964     +1.0932
 Euro/Sterling                0.8630         0.8605      +0.29%         -3.44%        +0.8649     +0.8603
 NZ                           $0.7207        $0.7162     +0.64%         +0.38%        +$0.7210    +$0.7158
 Dollar/Dollar                                                                                    
 Dollar/Norway                8.3425         8.3925      -0.53%         -2.78%        +8.3875     +8.3390
 Euro/Norway                  10.1970        10.2146     -0.17%         -2.58%        +10.2192    +10.1620
 Dollar/Sweden                8.3166         8.3200      +0.27%         +1.47%        +8.3397     +8.3111
 Euro/Sweden                  10.1655        10.1380     +0.27%         +0.88%        +10.1698    +10.1317
 
    
 (Reporting by David Henry in New York and Iain Withers in London; Editing by Will Dunham)
  

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https://www.reuters.com/article/global-forex/forex-dollar-languishes-near-3-month-lows-bitcoin-perks-up-idUSL2N2NB0U3

2021-05-24 14:26:00Z
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