* Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E
* Dollar edges lower as investors focus on economic recovery
* Coronavirus remains a risk to markets
* Traders avoid big positions before summer holidays
By Stanley White
TOKYO, July 9 (Reuters) - The dollar nursed losses against
most currencies on Thursday as a rally in riskier assets such as
global equities and commodities put a dent in safe-haven demand
for the U.S. currency.
Traders in Asia are focused on whether China's yuan can
extend gains against the greenback as investors of all stripes
shift funds to increase positions in Chinese stocks.
Lingering worries about the spread of the coronavirus could
keep some currency pairs in a tight range, but the dollar's
losses are gradually increasing as sentiment favours riskier
bets on long-term economic growth.
"Rising stocks and a dip in Treasury yields are slight
negatives for the dollar, but the market can't move too far
because we still have to worry about the virus," said Minori
Uchida, head of global market research at MUFG Bank.
"A lot of major U.S. economic data have been positive, so
this will be less of a trading factor going forward. People are
looking for cues from stocks, yields, and hedging costs."
The dollar bought 0.9384 Swiss franc CHF=EBS on Thursday
in Asia, close to the lowest in almost four months.
Against the euro EUR= , the dollar was quoted at $1.1334,
close to a three-week low.
The greenback was also close to a three-week low against the
pound GBP= , last trading at $1.2614.
Sterling held steady at 89.86 pence per euro EURGBP=D3 .
The dollar was little changed at 107.32 yen JPY= .
Asian stocks rose on Thursday in a sign that financial
markets are following gains in the tech-heavy Nasdaq .IXIC to
a record closing high on Wednesday. A light event calendar in Asia on Thursday could keep some
currency pairs in tight ranges, but analysts said sentiment
favours more dollar declines as investors try to look past a
recent spike in coronavirus cases in some countries.
The coronavirus pandemic is a global phenomenon, but success
in containing the virus varies greatly from region to region,
which has discouraged some investors from taking big positions
before the traditional summer holiday season.
Elsewhere in currencies, the Australian dollar AUD=D3 rose
to $0.6990, approaching its strongest level in a month.
The New Zealand dollar NZD=D3 was little changed at
$0.6578, also close to a one-month high.