* Yen recovers some of week's losses
* Dollar slips as vaccine rally peters out
* Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E
(Updates prices)
By David Henry
NEW YORK, Nov 13 (Reuters) - The safe-haven Japanese yen and Swiss franc strengthened on Friday, as
the threat of a new COVID-19 wave in the United States and Europe chilled the increased risk appetite that
had been driven by promising vaccine news earlier this week.
At 104.615 yen, the dollar had lost 0.46% against the Japanese currency on Friday morning in New York.
The yen dropped around 2% versus the dollar on Monday JPY=D3 . The Swiss franc CHF=EBS firmed to 0.9132
against the dollar, after trading at 0.9192 mid-week.
The dollar slipped 0.23% against a basket of currencies =USD .
Global markets surged on Monday after Pfizer Inc PFE.N said its experimental vaccine was more than
90% effective in trials. The news saw the dollar rise as traders quit their long-yen positions.
But currency market traders became more risk-averse on Thursday and Friday as infections spread and
the heads of the Federal Reserve and the European Central Bank (ECB) stressed that the economic outlook
remains uncertain. "It is tough to have a sustained run of optimism when virus cases continue to mount," said Joe
Manimbo, senior market analyst at Western Union Business Solutions. "The market sees light at the end of
the tunnel, but we're still in the tunnel."
Despite the pullback, the yen was on track for its worst week since June.
The euro was up 0.24% at $1.1832.
The prospect of a vaccine is a source of relief but the euro zone will still suffer as a result of new
lockdown measures, two ECB policymakers also said. But the Australian dollar - a liquid proxy for risk and global economic growth - picked up. It was up
0.44% on the day at 0.7265 versus the dollar.
"The prospect of the Fed staying super-easy through the winter and beyond, while vaccine optimism,
builds is dollar bearish," Kit Juckes, an FX strategist at Societe Generale, wrote in a note.
"The big winners in the longer-run are the higher-beta, growth and trade-sensitive currencies," he
said.
The New Zealand dollar was flat versus the dollar at 0.6840 NZD=D3 , but still up on the week after
jumping to its highest since March 2019 after the Reserve Bank of New Zealand's meeting on Wednesday.
Germany's health minister said on Friday that it was too early to say how long the latest lockdown
would last, while the French prime minister said France's measures would not be eased for at least two
weeks. Elsewhere, President-elect Joe Biden won the battleground state of Arizona late on Thursday, but
President Donald Trump still refuses to accept defeat. Currency bid prices at 2:50PM (1950 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Dollar index =USD $92.7480 92.9680 -0.23% +0.00% +93.0070 +92.7340
Euro/Dollar EUR=EBS $1.1832 $1.1804 +0.24% +5.54% +1.1835 +1.1800
Dollar/Yen JPY=D3 104.6150 105.1050 -0.46% -3.68% +105.1450 +104.6200
Euro/Yen EURJPY= 123.77 124.11 -0.27% +1.49% +124.3000 +123.6700
Dollar/Swiss CHF=EBS 0.9133 0.9152 -0.19% -5.60% +0.9159 +0.9127
Sterling/Dollar GBP=D3 1.3180 1.3124 +0.45% -0.60% +1.3191 +1.3112
Dollar/Canadian CAD=D3 1.3135 1.3145 -0.06% +1.12% +1.3171 +1.3116
Aussie/Dollar AUD=D3 0.7265 0.7233 +0.44% +3.53% +0.7273 +0.7222
Euro/Swiss EURCHF= 1.0807 1.0801 +0.06% -0.41% +1.0816 +1.0791
Euro/Sterling EURGBP= 0.8976 0.9000 -0.27% +6.17% +0.9005 +0.8966
NZ NZD=D3 0.6840 0.6839 +0.06% +1.69% +0.6847 +0.6811
Dollar/Dollar
Dollar/Norway NOK=D3 9.1665 9.1755 -0.04% +4.55% +9.1895 +9.1400
Euro/Norway EURNOK= 10.8480 10.8287 +0.18% +10.27% +10.8537 +10.8050
Dollar/Sweden SEK= 8.6924 8.6413 +0.81% -7.01% +8.7071 +8.6200
Euro/Sweden EURSEK= 10.2868 10.2040 +0.81% -1.74% +10.2925 +10.1988
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