FOREX-Dollar buoyant as economic outlook brightens, doubts surround euro

* 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 most major currencies on Friday,
buoyed by hopes over improving U.S. economic data and the
availability of coronavirus vaccines, while the euro recovered
from heavy losses a day before.
Against a basket of six major currencies =USD , the dollar
stood at 92.793, 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 to 109.44
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.
The euro managed to come back from Thursday's four-month
low, with the common currency bruised by doubts over the slow
pace of vaccinations.
Against the euro EUR=D3 , the dollar slipped 0.1% to
$1.17630 but remained near its strongest level since November.
Germany's Ifo survey later on Friday is expected to show an
improvement in business morale.
That's unlikely to halt the euro's slide, though. Worries
about the European Union's slow vaccination rollout and
bickering with former member Britain over vaccine exports have
become a dominant theme, traders said.
A notable exception to the dollar's gains was the British
pound GBP=D3 , which gained 0.3% to $1.37735 after rising 0.4%
on Thursday.

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