* Dollar rises against a basket of currencies
* Euro-dollar down about a quarter percent
* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
(New throughout, adds updated analyst quote)
By Jessica DiNapoli and Ritvik Carvalho
NEW YORK, March 24 (Reuters) - The dollar inched higher on Wednesday as the U.S. Treasury Secretary and
Fed chair indicated to Congress that they had confidence in the U.S. economy.
The dollar index, which touched a four-month high earlier in the session, was supported by safe-haven
flows even as some investors fretted over potential U.S. tax hikes.
The dollar rose against a basket of currencies to 92.5100 =USD . Yields on the 10-year Treasury fell a
bit to 1.612% but remained near recent highs after an auction of five-year notes. US10YT=RR
"The dollar is set to rise further, our vaccine rollout is coming along," said Ronald Simpson, managing
director, global currency analysis, at Action Economics. "Europe is sucking wind on the vaccine front."
Euro-dollar was down 0.24% at $1.1821 EUR=EBS on Wednesday.
U.S. Treasury Secretary Janet Yellen told Congress she was open to banks buying back stock and paying
dividends, an updated view showing her confidence in the economy. Federal Reserve Chair Jerome Powell also
said that he thinks 2021 will be a "very, very strong year in the most likely case." Risks remain, however, such as the ongoing resurgence of COVID-19 in Europe and possible tax hikes in
the United States. Inflation could also rear its head as disruptions in the supply chain exert
cost pressures for manufacturers, with U.S. factory activity picking up in early March. Euro zone business activity unexpectedly grew this month, a preliminary survey showed, but with much of
Europe suffering a third wave of coronavirus infections and renewed lockdown measures, that may not last
through April. The index that measures the dollar's strength against a basket of peer currencies is up nearly 3% year
to date, confounding widely held expectations among analysts for a decline.
The safe-haven yen JPY= rose 0.14% in afternoon trading in the United States.
Australia's dollar AUD= - considered a liquid proxy for risk - weakened further on Wednesday. The
Aussie slipped to as low as $0.7582, a level not seen since Feb. 5., before recovering.
In cryptocurrencies, bitcoin BTC=BTSP gained almost 2% to $55,377, off a record high of $61,781.83.
Currency bid prices at 3:10PM (1910 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Dollar index =USD 92.5120 92.4090 +0.12% 2.813% +92.6080 +92.3380
Euro/Dollar EUR=EBS $1.1822 $1.1850 -0.23% -3.23% +$1.1854 +$1.1812
Dollar/Yen JPY=D3 108.7000 108.5750 +0.12% +5.24% +108.9500 +108.4750
Euro/Yen EURJPY= 128.50 128.65 -0.12% +1.24% +128.8500 +128.3000
Dollar/Swiss CHF=EBS 0.9353 0.9338 +0.19% +5.74% +0.9369 +0.9337
Sterling/Dollar GBP=D3 $1.3695 $1.3754 -0.44% +0.23% +$1.3755 +$1.3675
Dollar/Canadian CAD=D3 1.2562 1.2588 -0.20% -1.35% +1.2608 +1.2543
Aussie/Dollar AUD=D3 $0.7598 $0.7626 -0.36% -1.23% +$0.7634 +$0.7583
Euro/Swiss EURCHF= 1.1058 1.1067 -0.08% +2.32% +1.1076 +1.1057
Euro/Sterling EURGBP= 0.8630 0.8616 +0.16% -3.44% +0.8645 +0.8614
NZ NZD=D3 $0.6976 $0.7000 -0.36% -2.88% +$0.7008 +$0.6956
Dollar/Dollar
Dollar/Norway NOK=D3 8.5800 8.6385 -0.81% -0.22% +8.6775 +8.5625
Euro/Norway EURNOK= 10.1458 10.2389 -0.91% -3.07% +10.2785 +10.1271
Dollar/Sweden SEK= 8.6043 8.5824 -0.02% +4.98% +8.6363 +8.5795
Euro/Sweden EURSEK= 10.1722 10.1740 -0.02% +0.95% +10.2040 +10.1519
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World FX rates https://tmsnrt.rs/2RBWI5E
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