* 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. Its 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 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.
The 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. The euro EUR=EBS showed little reaction to a slowdown in
factory activity indicated by purchasing manager index data,
rising 0.21% to $1.2116.
The 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
Dollar index =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 CHF=EBS 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 SEK= 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
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World FX rates https://tmsnrt.rs/2RBWI5E
U.S. dollar https://tmsnrt.rs/3bhVLdT
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