* Control of both Houses gives Biden scope to push agenda
* Yuan edges lower against the dollar
* Dollar outlook mixed
* Graphic: World FX rates in 2021 https://tmsnrt.rs/2RBWI5E (Adds details, updates prices; changes byline, previous LONDON)
By Chuck Mikolajczak
NEW YORK, Jan 7 (Reuters) - The dollar rebounded from levels not seen since March 2018 to its highest in a week on Thursday, on the potential for an economic rebound and profit-taking by investors who had been betting on the euro.
The dollar index =USD , which measures the U.S. currency against a basket of peers, rose 0.581% at 89.835 after rising as high as 89.979 with the euro EUR= down 0.45% to $1.2269.
The dollar saw little movement on Wednesday as hundreds of President Donald Trump's supporters stormed the U.S. Capitol on Wednesday in a bid to overturn his election defeat, battling police in the hallways and delaying the certification of Democratic President-elect Joe Biden's victory for hours. the certification of Biden's victory has raised expectations for more fiscal stimulus measures to bolster the economic outlook and pushed longer-dated bond yields higher, with the benchmark 10-year US10YT=RR climbing above 1% on Wednesday for the first time since March. the rates start to move, as they did yesterday, it wasn't a big move but it was in the right direction, that is the direction of the future," said Joseph Trevisani, senior analyst at FXStreet.com.
"It's debatable on how long it is going to take for the vaccines to work and hopefully end the pandemic but once that happens you are going to get a much stronger U.S. recovery and that will lead to a stronger dollar."
Still, many analysts maintain a weaker long-term outlook for the dollar, and see the recent advance as the unwinding of bearish bets against the greenback, after it fell nearly 7% in 2020 and as much as 0.9% in the new year.
The yuan edged lower at 6.47 per dollar CNH=EBS after Chinese authorities signaled a desire for a slower pace of gains. remarks by the State Administration of Foreign Exchange (SAFE) on Wednesday follow an advance of around 10% on the greenback since last May as China's economic rebound has led the world's pandemic recovery.
Sterling GBP= was last trading at $1.3562, down 0.33% on the day as it continued to meander below the almost three-year high of $1.3703 touched on Monday.
Bitcoin BTC=BTSP marked a fresh all-time high as it approached the $40,000 mark on Thursday, and was last up 6.56% at $39,266.00.
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Currency bid prices at 11:07AM (1607 GMT) Description
RIC
Last
U.S. Close Pct Change
YTD Pct
High Bid
Low Bid
Previous
Change
Session
Dollar index
=USD
89.8350
89.3250
+0.58%
+0.00%
+89.9790
+89.2940 Euro/Dollar
EUR=EBS
$1.2270
$1.2328
-0.47%
+0.42%
+$1.2345
+$1.2245 Dollar/Yen
JPY=D3
103.8250
103.0400
+0.84%
+0.60%
+103.9500 +103.1000 Euro/Yen
EURJPY=
127.38
127.00
+0.30%
+0.36%
+127.4500 +126.9200 Dollar/Swiss
0.8845
0.8781
+0.73%
-0.02%
+0.8861
+0.8778 Sterling/Dollar GBP=D3
$1.3560
$1.3610
-0.37%
-0.75%
+$1.3632
+$1.3537 Dollar/Canadian CAD=D3
1.2713
1.2680
+0.28%
-0.15%
+1.2733
+1.2665 Aussie/Dollar
AUD=D3
$0.7753
$0.7806
-0.67%
+0.80%
+$0.7817
+$0.7726 Euro/Swiss
EURCHF=
1.0852
1.0826
+0.24%
+0.40%
+1.0862
+1.0826 Euro/Sterling
EURGBP=
0.9045
0.9055
-0.11%
+1.21%
+0.9077
+0.9016 NZ
NZD=D3
$0.7246
$0.7295
-0.70%
+0.88%
+$0.7304
+$0.7226 Dollar/Dollar
Dollar/Norway
NOK=D3
8.4315
8.4165
+0.34%
-1.65%
+8.4715
+8.4065 Euro/Norway
EURNOK=
10.3485
10.3680
-0.19%
-1.13%
+10.3785
+10.3325 Dollar/Sweden
8.1976
8.1645
+0.02%
+0.01%
+8.2319
+8.1577 Euro/Sweden
EURSEK=
10.0585
10.0565
+0.02%
-0.18%
+10.0905
+10.0505