* Dollar index heads for 2.8% monthly loss, worst since July
* Canadian dollar buoyed by BoC tapering, rally in crude oil
* Yen languishes amid higher U.S. yields, record stock rally
* Ether hovers near all-time high; bitcoin stuck near
$54,000
By Kevin Buckland
TOKYO, April 30 (Reuters) - The U.S. dollar skidded toward a
fourth straight weekly decline against a basket of major peers
on Friday, as the Federal Reserve stuck to its message of
ultra-low interest rates for longer.
The dollar index =USD was on course to end the week 0.2%
lower, bringing its losses for April to 2.8%. A four-week losing
streak would be the longest since the six-week slide to the end
of July, and the monthly loss would also be the biggest since
July's 4% slump.
The Canadian dollar CAD=D3 climbed to a
more-than-three-year high of C$1.2273 per greenback on Friday,
on track for a 1.7% weekly gain that would be its biggest since
the start of November.
At the conclusion of the Fed's latest policy meeting on
Wednesday, Chair Jerome Powell acknowledged the U.S. economy's
growth, but said there was not yet enough evidence of
"substantial further progress" toward recovery to warrant a
change to policy. That growth accelerated in the first quarter, buoyed by
government stimulus cheques, setting the course for what is
expected to be the strongest performance this year in nearly
four decades.
Signs that a strengthening economy, particularly in the
labour market, might force the Fed into an earlier tapering of
its asset-purchase programmed had pushed the dollar index, or
DXY, to a five-month high at the end of March.
"DXY may attempt a rebound in coming days as expectations
turn to a potentially blockbuster April payrolls next week, but
gains will prove short-lived with Fed officials to underscore
Powell's resolutely dovish stance," Westpac strategists wrote in
a client note.
The gauge is likely to drop below 90 in the near term, from
90.6 currently, but the "DXY's depreciation trend is likely more
of an ongoing grind than a wholesale sharp setback," they said.
The Fed's dovishness was in marked contrast to the Bank of
Canada, which has already begun to taper its asset purchases.
Canada's commodity-linked loonie got additional support from a
surge in oil prices to a six-week peak.
Higher commodity prices also supported the Australian dollar
AUD=D3 , which gained 0.2% to $0.77795, climbing back toward
the six-week high of $0.78180 touched Thursday.
The euro EUR=EBS has largely flat at $1.2122, near the
two-month high of $1.2150 set the previous session. The shared
currency is up 0.2% for the week and 3.3% for the month.
The yen JPY=EBS saw opposite fortunes, hurt by a recovery
in U.S. Treasury yields and a rally to record highs for global
stocks that sapped demand for the safest assets.
Japan's currency changed hands at 108.86 per dollar, near
the two-week low of 109.22 from Thursday, setting it up for a
loss of about 1% for the week.
In cryptocurrencies, ether ETH=BTSP hovered just below a
record high of $2,800.89 set on Thursday, after being lifted
this week on media reports about the European Investment Bank's
plans to launch a "digital bond" sale on the ethereum blockchain
network. Bigger rival bitcoin BTC=BTSP traded at $53,511.89,
vacillating around that level this week after dipping as low as
$47,004.20 on Sunday following a sharp retreat from the record
high of $64,895.22 marked in the middle of the month.
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Currency bid prices at 119 GMT
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Euro/Dollar EUR=EBS $1.2123 $1.2122 +0.01% -0.78% +1.2127 +1.2117
Dollar/Yen JPY=EBS 108.8470 108.9100 -0.05% +5.39% +109.0450 +108.8600
Euro/Yen
Dollar/Swiss CHF=EBS 0.9084 0.9089 -0.05% +2.68% +0.9092 +0.9085
Sterling/Dollar GBP=D3 1.3954 1.3946 +0.09% +2.17% +1.3957 +1.3941
Dollar/Canadian CAD=D3 1.2273 1.2278 -0.01% -3.59% +1.2283 +1.2272
Aussie/Dollar AUD=D3 0.7776 0.7766 +0.14% +1.09% +0.7783 +0.7767
NZ NZD=D3 0.7247 0.7243 +0.06% +0.92% +0.7250 +0.7241
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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