* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
* U.S. stimulus, jobs data give dollar a boost
* Euro near 3-month low, yen at 9-month low
* Commodity currencies gain early after Brent rises
(Adds comments; updates prices)
By Stanley White and Sagarika Jaisinghani
TOKYO, March 8 (Reuters) - The dollar hovered near
three-month highs on Monday after the U.S. Senate passage of a
bumper stimulus bill sparked another sell-off in the bond
market, while currencies of major commodity exporters pulled
back as a broader risk-on trade lost momentum.
The dollar index =USD stood at 92.073 against a basket of
six major currencies, up 0.17% and near its three-month high of
92.201 set on Friday.
The Senate passed a $1.9 trillion COVID-19 relief plan, a
day after a stunning U.S. jobs report sent the greenback to its
highest level since November 2020. "The dollar is in demand as the United States is the most
services-heavy economy globally, and once the reopening
narrative goes in full swing, that will provide the icing on the
cake," said Stephen Innes, chief global markets strategist at
Axi.
While investors have increased bets on a faster economic
rebound this year, concerns about higher inflation have pushed
up bond yields despite assurances from central banks including
the U.S. Federal Reserve that monetary policy will stay loose.
The yield on the benchmark U.S. 10-year Treasuries
US10YT=TWEB hovered near one-year highs on Monday, while U.S.
Nasdaq futures NQcv1 fell about 1% and European stock index
futures STXc1 pared gains as the selloff also spread to other
risk assets. MKTS/GLOB
Speculators cut their net short dollar positions in the
latest week to $27.80 billion, which is the smallest short
position since Dec. 15 and suggests that dollar bears are giving
up on betting against the greenback. IMM/FX
The dollar held near a one-month high against the British
pound, which traded at $1.3819 GBP=D4 , and a three-month high
against the euro, which stood at $1.1904 EUR= .
Against the low-yielding yen JPY=EBS , the greenback held
steady at 108.39 yen, having hit a nine-month high of 108.645 on
Friday.
"More significant pushback from other central banks to their
respective bond markets over the last week than the Fed provided
has given reason for the dollar move to broaden out," Innes
said.
China's yuan CNY=PBOC eased to a more-than-two-month low,
with the bounce in the dollar and U.S. yields prompting many
investors to re-evaluate forecasts for the yuan, which the
market had expected to be stronger for the remainder of this
year. CNY/
The Australian dollar AUD=D3 rose 0.2% to $0.7696, but was
well off its session high of $0.77230. The New Zealand dollar
NZD=D3 was down about 0.1% after earlier rising 0.4% to
$0.719. The antipodean currencies have been in demand because of
their links to the global commodities trade.
The U.S. currency fell 0.38% against the Norwegian crown
NOK= to 8.5283 and eased slightly to 1.2637 Canadian dollars
as traders bought the currencies of oil exporters.
Some traders said a jump in Brent crude futures LCOc1
above $70 a barrel for the first time in more than a year
triggered a flurry of bids for commodity currencies at the start
of Asian trading.
========================================================
Currency bid prices at 0430 GMT
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Euro/Dollar EUR=EBS $1.1904 $1.1908 -0.05% -2.59% +1.1932 +1.1899
Dollar/Yen JPY=D3 108.3950 108.2600 +0.12% +4.93% +108.4850 +108.3450
Euro/Yen EURJPY= 129.03 129.09 -0.05% +1.66% +129.3900 +128.9800
Dollar/Swiss CHF=EBS 0.9318 0.9311 +0.08% +5.33% +0.9319 +0.9299
Sterling/Dollar GBP=D3 1.3821 1.3831 -0.09% +1.15% +1.3864 +1.3810
Dollar/Canadian CAD=D3 1.2654 1.2649 +0.05% -0.62% +1.2663 +1.2624
Aussie/Dollar AUD=D3 0.7696 0.7680 +0.21% +0.05% +0.7722 +0.7686
NZ NZD=D3 0.7158 0.7165 -0.10% -0.32% +0.7190 +0.7152
Dollar/Dollar
All spots FX=
Tokyo spots AFX=
Europe spots EFX=
Volatilities FXVOL=
Tokyo Forex market info from BOJ TKYFX
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World FX rates https://tmsnrt.rs/2RBWI5E
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