(New comment, changes dateline to NEW YORK (was LONDON),
changes byline)
* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
By Stephen Culp
NEW YORK, Feb 18 (Reuters) - The dollar lost ground on
Thursday, ending its first two-day winning streak in two weeks
as disappointing labor market data tempered expectations for a
speedy economic recovery from the global health crisis.
"Right around 2 am this morning the dollar got sold across
the board," said Erik Bregar, head of FX strategy at Exchange
Bank of Canada in Toronto. "(That was) a precursor to the
further weakness we're seeing today."
Bitcoin BTC=BTSP eased off its record high of $52,640
reached overnight. The cryptocurrency has surged roughly 78% so
far this year as institutional interest ramps up, but some
analysts warn that the rally might be unsustainable.
"Is (bitcoin) an asset class that the world should take more
seriously? Perhaps," Bregar added. "The bigger the institutional
investment involved, the more interested I'll get."
An unexpected increase in weekly jobless claims dampened
enthusiasm over otherwise upbeat data this week, the day after
minutes from the U.S. Federal Reserve's most recent monetary
policy meeting showed the central bank was determined to
continue supporting the economic recovery. The dollar slightly pared its losses against a basket of
world currencies on the news.
"Today, jobless claims came in higher than expected that put
a little bit of support back under the dollar," Bregar added.
"And tomorrow, the market is going to forget about it and focus
on something else."
The dollar index =USD was off 0.24% at 90.680 after two
days of consecutive gains.
The euro EUR=EBS gained 0.30% to $1.2077 after sliding
0.5% overnight, the most in two weeks.
The yen JPY=EBS gained some ground against the greenback
and was last almost flat at 105.800, but still below its 200-day
moving average.
Sterling advanced 0.63% against the dollar GBP=D3 and was
last at 1.395, and hit a high against the euro of 86.525 pence
EURGBP=D3 . The pound is the best-performing G10 currency
against the dollar this year. GBP/
========================================================
Currency bid prices at 9:48AM (1448 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Dollar index =USD 90.6660 90.8980 -0.24% 0.761% +90.9810 +90.5530
Euro/Dollar EUR=EBS $1.2076 $1.2040 +0.30% -1.16% +$1.2090 +$1.2036
Dollar/Yen JPY=D3 105.7900 105.8600 -0.06% +2.43% +105.9150 +105.6500
Euro/Yen EURJPY= 127.76 127.46 +0.24% +0.66% +127.7800 +127.3400
Dollar/Swiss CHF=EBS 0.8968 0.8988 -0.22% +1.37% +0.8995 +0.8958
Sterling/Dollar GBP=D3 $1.3952 $1.3865 +0.63% +2.13% +$1.3986 +$1.3841
Dollar/Canadian CAD=D3 1.2694 1.2698 -0.02% -0.31% +1.2716 +1.2666
Aussie/Dollar AUD=D3 $0.7762 $0.7751 +0.13% +0.89% +$0.7789 +$0.7748
Euro/Swiss EURCHF= 1.0829 1.0819 +0.09% +0.20% +1.0831 +1.0820
Euro/Sterling EURGBP= 0.8652 0.8682 -0.35% -3.19% +0.8700 +0.8642
NZ NZD=D3 $0.7194 $0.7189 +0.10% +0.21% +$0.7222 +$0.7177
Dollar/Dollar
Dollar/Norway NOK=D3 8.4770 8.5020 -0.24% -1.23% +8.5160 +8.4575
Euro/Norway EURNOK= 10.2360 10.2275 +0.08% -2.21% +10.2580 +10.2090
Dollar/Sweden SEK= 8.3149 8.3231 +0.15% +1.45% +8.3357 +8.2972
Euro/Sweden EURSEK= 10.0412 10.0259 +0.15% -0.35% +10.0530 +10.0205
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World FX rates https://tmsnrt.rs/2RBWI5E
Reflation trade's big FX winner: GBP https://tmsnrt.rs/3auhcJE
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