* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E (Updates to late afternoon, adds new quote)
By Stephen Culp
NEW YORK, Feb 19 (Reuters) - The dollar lost ground on Friday as market participants favored currencies associated with risk-on sentiment over the safe-haven greenback.
Risk appetite was stoked by better-than-expected economic data and expectations that U.S. President Joe Biden's proposed $1.9 trillion coronavirus relief package will come to fruition.
"The dollar's down against other currencies but not by a whole lot," said Oliver Pursche, president of Bronson Meadows Capital Management in Fairfield, Connecticut. "I expect the dollar to be where it is now at the end of the year, and the main reason for that is while I see some signs of improvement in the economy, monetary policy is going to stay where it is."
"I don't think the dollar is underpriced or overpriced," Pursche added.
For the week, the dollar slid about 0.2% against a basket of world currencies, the euro was essentially flat, and the yen lost more than 0.5%. But the British pound advanced more than 1.1% against the dollar, its best week since mid-December.
Bitcoin continues soar to record highs. The world's largest cryptocurrency BTC=BTSP was last up 6.6% at $54,961.67, hitting $1 trillion in market capitalization. smaller rival, ethereum ETH=BTSP , was last up 0.7% at $1,953.28.
The digital currencies have gained about 89% and 1,420%, respectively, year to date, leading some analysts to warn of a speculative bubble.
"One concern I've always had (about cryptocurrencies) is how susceptible they are to manipulation," Pursche said. "But they're going to continue to gain legitimacy."
"While it's great that Tesla made an investment in bitcoin, I'm more intrigued by Blackrock (NYSE:BLK) and other major investment firms taking a hard look at cryptocurrencies as a viable investment."
The Australian dollar AUD=D3 , which is closely linked to commodity prices and the outlook for global growth, was last up 1.21% at $0.7863, touching its highest since March 2018. New Zealand NZD=D3 dollar also gained, closing in on a more than two-year high, and the Canadian dollar CAD=D3 advanced as well.
Sterling GBP=D3 , which often benefits from increased risk appetite, rose to an almost three-year high amid Britain's aggressive vaccination program. It had last gained 0.27% to $1.40. euro EUR=EBS showed little reaction to a slowdown in factory activity indicated by purchasing manager index data, rising 0.21% to $1.2116. yen JPY=EBS , gained ground against the dollar and was last at 105.495, creeping above its 200-day moving average for the first time in three days.
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Currency bid prices at 2:55PM (1955 GMT) Description
RIC
Last
U.S. Close Pct Change
YTD Pct
High Bid
Low Bid
Previous
Change
Session
=USD
90.3600
90.5640
-0.22%
0.421%
+90.6550
+90.1720 Euro/Dollar
EUR=EBS
$1.2116
$1.2091
+0.21%
-0.83%
+$1.2145
+$1.2083 Dollar/Yen
JPY=D3
105.4900
105.6600
-0.13%
+2.16%
+105.7350 +105.2700 Euro/Yen
EURJPY=
127.80
127.79
+0.01%
+0.69%
+128.1800 +127.6600 Dollar/Swiss
0.8968
0.8960
+0.12%
+1.40%
+0.8972
+0.8933 Sterling/Dollar GBP=D3
$1.4011
$1.3972
+0.27%
+2.55%
+$1.4035
+$1.3952 Dollar/Canadian CAD=D3
1.2620
1.2678
-0.45%
-0.89%
+1.2713
+1.2595 Aussie/Dollar
AUD=D3
$0.7863
$0.7769
+1.21%
+2.22%
+$0.7877
+$0.7758 Euro/Swiss
EURCHF=
1.0865
1.0830
+0.32%
+0.54%
+1.0870
+1.0833 Euro/Sterling
EURGBP=
0.8646
0.8647
-0.01%
-3.26%
+0.8678
+0.8641 NZ
NZD=D3
$0.7293
$0.7220
+1.00%
+1.55%
+$0.7314
+$0.7206 Dollar/Dollar
Dollar/Norway
NOK=D3
8.4695
8.4605
+0.18%
-1.29%
+8.4905
+8.4145 Euro/Norway
EURNOK=
10.2648
10.2215
+0.42%
-1.93%
+10.2756
+10.2040 Dollar/Sweden
8.2875
8.3129
+0.03%
+1.11%
+8.3268
+8.2623 Euro/Sweden
EURSEK=
10.0420
10.0394
+0.03%
-0.34%
+10.0610
+10.0288
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ World FX rates
https://tmsnrt.rs/2RBWI5E U.S. dollar
https://tmsnrt.rs/3bhVLdT
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>