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FOREX-Dollar held down by doubts over pace of U.S. recovery; bitcoin retreats from record high

Published 15/02/2021, 04:52 pm
© Reuters.
EUR/USD
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USD/JPY
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USD/CHF
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BARC
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DX
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TSLA
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BTC/USD
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BTC/USD
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* Dollar index near two-week low after retreat from two-month high

* Bitcoin dips below $46,000 a day after hitting record $49,714.66

* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E

By Kevin Buckland

TOKYO, Feb 15 (Reuters) - The dollar started the week pinned near two-week lows on Monday as traders questioned whether the recovery from the pandemic in the United States would be as fast as expected.

Bitcoin BTC=BTSP remained volatile, retreating to as low as $45,914.75 a day after reaching a record $49,714.66.

The world's most popular cryptocurrency had rallied 25% last week, driven by endorsements from Tesla TSLA.O and BNY Mellon BK.N . dollar index =USD slipped 0.1% to 90.336, close to last week's low of 90.249 - a level unseen since Jan. 27.

The gauge hit a two-month top of 91.6 on Feb. 5 on hopes that a U.S. rebound would outpace other major economies, but has since pulled back amid disappointing employment data.

"Now the market is looking for actual evidence that the U.S. economy is outperforming," said Shinichiro Kadota, senior currency strategist at Barclays (LON:BARC) Capital in Tokyo.

"The economic data needs to improve."

The euro EUR=EBS edged 0.1% higher to $1.21315, extending last week's 0.6% advance.

The dollar rose 0.1% to 105.04 yen JPY=EBS , recovering some of the previous week's 0.4% loss.

Many financial markets in Asia remained closed on Monday for Lunar New Year, with the United States also out for Presidents Day.

Riskier currencies gained against the greenback, with the Australian dollar adding 0.3% to 77.795 U.S. cents after earlier touching a one-month high of 77.85.

The British pound appreciated 0.3% to $1.3895 after renewing an almost-three-year high at $1.3901.

The Chinese yuan reached its strongest level since June 2018 at 6.4012 per dollar in the offshore market CNH=EBS .

In cryptocurrencies, bitcoin last traded 3.7% lower at $46,852.

Rival virtual coin ethereum ETH=BTSP , which often trades in tandem with bitcoin, slumped 4.3% to $1,725. It reached a record high of $1,874.98 on Saturday. ========================================================

Currency bid prices at 2:14PM (514 GMT) Description

RIC

Last

U.S. Close Pct Change

YTD Pct

High Bid

Low Bid

Previous

Change

Session

Euro/Dollar

EUR=EBS

$1.2134

$1.2119

+0.13%

-0.68%

+1.2138

+1.2117 Dollar/Yen

JPY=D3

105.0220

104.9250

+0.11%

+1.70%

+105.1300 +105.0400 Euro/Yen

EURJPY=

127.44

127.14

+0.24%

+0.41%

+127.5200 +127.1800 Dollar/Swiss

CHF=EBS

0.8909

0.8919

-0.11%

+0.70%

+0.8925

+0.8908 Sterling/Dollar GBP=D3

1.3896

1.3852

+0.32%

+1.71%

+1.3900

+1.3863 Dollar/Canadian CAD=D3

1.2665

1.2689

-0.18%

-0.53%

+1.2689

+1.2666 Aussie/Dollar

AUD=D3

0.7783

0.7760

+0.32%

+1.20%

+0.7784

+0.7760 NZ

NZD=D3

0.7242

0.7215

+0.40%

+0.88%

+0.7243

+0.7207 Dollar/Dollar

All spots FX= Tokyo spots AFX= Europe spots EFX= Volatilities FXVOL= Tokyo Forex market info from BOJ TKYFX

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ World FX rates

https://tmsnrt.rs/2RBWI5E

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

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