* German ZEW economic survey boosts euro amid thin liquidity
* Fiscal stalemate, U.S.-Sino tensions breathe strength into dollar
* Oil currencies flourish as oil prices rise
* Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E (Adds new comment, FX table, updates prices, changes byline, dateline; previous LONDON)
By Gertrude Chavez-Dreyfuss
NEW YORK, Aug 11 (Reuters) - The dollar slid from one-week highs and the euro topped $1.18 on Tuesday as investors flocked to currencies that benefit from an improving global market outlook, with the S&P 500 nearing a record high and investor sentiment in Germany rising more than expected.
Aside from the euro, sterling and commodity-linked currencies such as the Australian and Canadian dollars, as well as the Norwegian crown, gained against a broadly weakening dollar.
"The greenback remains dogged by the narrative that other nations are better navigating the coronavirus pandemic," said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington.
He also cited the standstill in Congress over an additional pandemic stimulus package, which "reinforces expectations of low growth and low lending rates for longer."
In late morning trading, the dollar index =USD was down 0.2% at 93.454, sliding from a one-week high hit earlier in the session.
The euro rose after the ZEW survey of economic sentiment rose to 71.5 from 59.3 the previous month, far exceeding a forecast for 58.0 in a Reuters poll of economists. a result, euro/dollar gained 0.5% to $1.1809 EUR=EBS . The move was exacerbated by thin August liquidity, said Jane Foley, senior currency analyst at Rabobank, and she was "suspicious" about how much effect the ZEW survey had.
The euro was last up 0.3% at $1.1769.
"We need to wait till September to see clear direction coming from euro/dollar," Foley said.
The U.S. dollar has held a floor, despite losses, amid U.S.-China tensions and a stalemate between Congress and the Trump Administration over fiscal stimulus.
The dollar was last up 0.4% against the Japanese yen at 106.41 yen JPY=EBS , as U.S. 10-year Treasury yields rose to four-week highs US10YT=RR . The greenback earlier touched a one-week peak versus the yen.
Congressional leaders and administration officials said on Monday they were ready to resume negotiations on a coronavirus aid deal. It was unclear whether they could bridge their differences. China imposed sanctions on 11 U.S. citizens, including Republican lawmakers, following Washington's sanctions on Hong Kong and Chinese officials. Treasury Secretary Steven Mnuchin said companies from China and other countries that do not comply with accounting standards will be delisted from U.S. stock exchanges as of the end of 2021. response to the U.S.-China conflict has been limited, but analysts say there could be longer-term implications.
Sterling traded up 0.2% at $1.3095 GBP=D3 after Bank of England Deputy Governor Dave Ramsden said the central bank will step up quantitative easing if the British economy struggles again. bid prices at 10:46AM (1446 GMT) Description
RIC
Last
U.S. Close Pct Change
YTD Pct
High Bid
Low Bid
Previous
Change
Session
Euro/Dollar
EUR=
$1.1777
$1.1736
+0.35%
+5.06%
+1.1807
+1.1723 Dollar/Yen
JPY=
106.4100
105.9500
+0.43%
-2.25%
+106.4400 +105.9300 Euro/Yen
EURJPY=
125.34
124.36
+0.79%
+2.78%
+125.3500 +124.3600 Dollar/Swiss
CHF=
0.9148
0.9156
-0.09%
-5.48%
+0.9168
+0.9106 Sterling/Dollar GBP=
1.3091
1.3070
+0.16%
-1.25%
+1.3131
+1.3057 Dollar/Canadian CAD=
1.3299
1.3350
-0.38%
+2.39%
+1.3361
+1.3270 Australian/Doll AUD=
0.7162
0.7149
+0.18%
+2.01%
+0.7189
+0.7146 ar
Euro/Swiss
EURCHF=
1.0774
1.0746
+0.26%
-0.72%
+1.0776
+1.0736 Euro/Sterling
EURGBP=
0.8995
0.8977
+0.20%
+6.39%
+0.9010
+0.8970 NZ
NZD=
0.6592
0.6589
+0.05%
-2.14%
+0.6626
+0.6586 Dollar/Dollar
Dollar/Norway
8.9811
9.0354
-0.60%
+2.30%
+9.0524
+8.9323 Euro/Norway
EURNOK=
10.5793
10.6020
-0.21%
+7.52%
+10.6745
+10.5420 Dollar/Sweden
SEK=
8.7454
8.7493
+0.21%
-6.45%
+8.7731
+8.7048 Euro/Sweden
EURSEK=
10.3033
10.2812
+0.21%
-1.58%
+10.3038
+10.2669
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Eurodollar
https://tmsnrt.rs/2FdCJJj
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>