FOREX-Dollar slips as markets recover; China data helps

* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh

By Saikat Chatterjee
LONDON, Aug 8 (Reuters) - The dollar edged lower across the
board on Thursday, as risk sentiment stabilised after resilient
Chinese trade data and Beijing's efforts to slow a slide in the
value of the renminbi encouraged investors to buy riskier
currencies.
Data showed Chinese exports rose 3.3% in July from a year
earlier, while analysts had looked for a fall of 2%, and
policymakers fixed the daily value of the yuan at a firmer level
than many had expected, even though it was beyond the 7 per
dollar level for the first time since the global financial
crisis. CNY/ Against a basket of currencies .DXY the dollar was broadly
steady at 97.58, but it weakened 0.1% versus the Australian
dollar AUD=D3 and the British pound GBP=D3
"The recent comments from Chinese officials suggest they
want to stabilise their currency, otherwise a sharp currency
drop may fuel capital outflows," said Manuel Oliveri, an FX
strategist at Credit Agricole in London.
"The other factor helping risk sentiment is a growing swathe
of central bank cuts."
This week, New Zealand joined India and Thailand in cutting
interest rates, with market expectations growing that other
major central banks will join in further easing monetary policy.
Indeed, market expectations for more than a quarter point
rate cut from the U.S. Federal Reserve in September is still
firmly baked into bond markets, despite an overnight bounce in
global markets.
Those expectations forced the dollar to weaken also against
the euro and the yen.
The yen JPY= was a tad firmer at 106.185 per dollar. It
touched 105.500 yen overnight, its strongest level since Jan. 3,
before pulling back slightly.
"The yen's appreciation versus the dollar may have slowed
for now, but it stands to keep gaining in the longer term," said
Junichi Ishikawa, senior FX strategist at IG Securities in
Tokyo. "Its other peers, notably the antipodean currencies, have
weakened severely and this provides overall support to the yen."
The kiwi NZD=D3 nudged up 0.1% to $0.6452, following a
slide to a 3-1/2 year low of $0.6378 on Wednesday after the rate
cut.