Orsted considers €5 billion rights offering to strengthen finances - Bloomberg
* Dollar holds gains against major currencies
* Rises to highest vs. Japanese yen since June
* Full data calendar awaits traders later in day
* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
By Tom Wilson
LONDON, March 26 (Reuters) - The dollar held near its
highest since November against major currencies on Friday,
helped by optimism over the state of the U.S. economy and the
rollout of coronavirus vaccines, while the euro recovered some
of its heavy losses from a day before.
Against a basket of six major currencies =USD , the dollar
stood at 92.846, not far off a four-month high hit a day earlier
and on course for a weekly gain of 0.9%.
In further signs of strength, the dollar rose 0.6% to 109.82
against the Japanese yen JPY=D3 , its highest since June,
Against the Swiss franc CHF=D3 , it rose to its highest since
July, holding onto a 0.5% gain from the previous session.
U.S. jobless claims fell to a one-year low last week and
President Joe Biden said he will double his vaccination plan
after reaching his previous goal of 100 million shots 42 days
ahead of schedule, both of which support optimism in the dollar.
Data on U.S. personal consumption due later on Friday was
also on traders' radars.
"The extent of the strength (of the dollar) is more because
of Biden's stimulus package," said Derek Halpenny, head of
research for global markets at MUFG.
A resurgence of COVID-19 cases in major economies such as
the euro zone has also favoured, he added.
The dollar's gains in the past few weeks have been so rapid
that some analysts are warning against chasing the dollar higher
from current levels.
"We believe recent moves in FX markets are corrective and
not part of a new 2021 trend," ING analysts wrote in a note.
BRUISED EURO
The euro managed to claw back ground from Thursday's
four-month low, though the common currency is still bruised by
doubts over the slow pace of vaccinations and rising infections.
Against the euro EUR=D3 , the dollar slipped 0.1% to
$1.1763 but remained near its strongest level since November.
In a fillip for the common currency, business morale in the
euro zone's biggest economy Germany hit its highest level in
almost two years in March as rising demand for manufactured
goods kept factories humming through rising coronavirus
infections and lockdown restrictions. The euro has been under pressure as worries about the
European Union's slow vaccination rollout and bickering with
former member Britain over vaccine exports become a dominant
theme, traders said, adding that rising cases were a concern.
Underscoring those fears, the head of the Robert Koch
Institute in Germany said a third wave of infections could turn
into the worst so far with 100,000 new daily cases not out of
the question. A notable exception to the dollar's gains was the British
pound GBP=D3 . Sterling gained as much as 0.4% to $1.37910,
matching its gain on Thursday, with traders generally upbeat
about Britain's vaccine rollout and economic outlook.
Sterling was up 0.1% against the euro, at 85.58 pence per
euro, on track for a 0.4% gain against the euro for the week.
EURGBP=D3
Elsewhere, bitcoin BTC=BTSP gained as much as 4%, helping
recover some of its pullback from a record high of almost
$62,000 touched earlier this month. It was last up 2.6% at
$52,687, down 15% from its record.
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