FOREX-Risk currencies, bitcoin recover as yields steady

* Bitcoin up 4%
* U.S. Treasuries stabilise
* Australian dollar, kiwi dollar bounce
* Sterling rises on bets of vaccine-led economic rebound
* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E

(Adds comments, updates prices)
By Julien Ponthus
LONDON, March 1 (Reuters) - The Australian dollar and other
riskier currencies rebounded against the U.S. dollar on Monday
as U.S. Treasuries recovered from last week's losses.
The benchmark 10-year U.S. bond traded at 1.4153%
US10YT=RR , well off Thursday's one-year high of 1.614%.
"The bond market and risk assets are showing signs of
stabilisation after the big sell-off last week", ING analysts
commented, expecting that "the dollar's corrective rally should
pause for breath".
Equities and commodities sold off last week as the debt rout
unsettled investors and lifted demand for safe-haven currencies,
including the U.S. dollar. MKTS/GLOB
Early today, the risk-friendly Australian dollar AUD=
jumped 0.5% to $0.7743 following a 2.1% plunge on Friday.
The Reserve Bank of Australia will hold its monthly policy
meeting on Tuesday, and markets expect it to reinforce its
forward guidance for three more years of near-zero rates.
The New Zealand dollar NZD=D3 strengthened 0.46% to
$0.7259, recovering some of Friday's 1.9% slide.
The dollar index =USD rose 0.26% to 91.02 after posting
its biggest surge since June on Friday.
The euro EUR=EBS fell 0.12% to $1.2056, after dropping
0.9% at the end of last week, the most since April.
Pressure has been growing on the European Central Bank to
act against rising yields in the euro zone. Traders will focus
on a speech later this afternoon by President Christine Lagarde.
"There is little doubt in my mind that central banks will
eventually lean quite hard against a sustained rise in yields.
They simply can't afford to see it happen with debt so high",
Deutsche Bank strategist Jim Reid told his clients in a morning
note.
The British pound drew additional support from bets on a
faster vaccine-led economic recovery. Resurgent risk appetite
pushed the safe-haven Japanese yen to a six-month low versus the
dollar.
Sterling GBP=D3 rose 0.17% to $1.3945.
Against the yen JPY=EBS , the dollar hit a six-month high
of 106.70.
In cryptocurrency markets, bitcoin BTC=BTSP rose 4% to
$47,069 but was still off a record high of $58,354.14 hit on
Feb. 21.

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