FOREX-Dollar dips as plans to reopen economies boosts risk sentiment

* Japanese yen rises to two-week high vs U.S. dollar
* Aussie dollar highest against U.S. dollar since March 12
* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh

(Adds details, updates prices; changes byline, dateline;
previous LONDON)
By Karen Brettell
NEW YORK, April 27 (Reuters) - The U.S. dollar fell across
the board on Monday as several countries laid out plans to ease
restrictions on businesses that have been closed due to the
novel coronavirus outbreak, boosting risk appetite and reducing
demand for the safe-haven U.S. currency.
"Reopening plans have fed into positive market sentiment to
start the week," said Win Thin, global head of currency strategy
at Brown Brothers Harriman in New York. "The dollar is under
some pressure."
Italy, which has the world's second-highest rate of
coronavirus deaths, is among the countries that have laid out
plans to allow businesses to reopen. In the United States, a number of states have eased
restrictions on businesses, and more are ready to follow.
The dollar fell 0.34% against a basket of currencies =USD
to 99.90.
The euro EUR= gained 0.30% to $1.0852.
The single currency was also supported after credit-rating
agency Standard & Poor's on Friday reaffirmed Italy's BBB
rating. Many had expected a downgrade. The yen gained after the Bank of Japan expanded its stimulus
to help companies hit by the coronavirus crisis, pledging to buy
an unlimited amount of bonds to keep borrowing costs low as the
government tries to spend its way out of the deepening economic
pain. The dollar fell 0.47% against the Japanese currency JPY=
to 107 yen, the lowest since April 15.
Traders are next focused on a U.S. Federal Reserve meeting
that will end on Wednesday and a European Central Bank (ECB)
meeting on Thursday.
The Australian dollar rose after the Australian states of
Queensland and Western Australia said they would ease social
distancing rules this week. The Aussie AUD= gained 1.25% against the greenback to
$0.6465, the highest since March 12.
Some analysts, however, say the improvement in risk appetite
is premature since lockdown measures are still in place and it
will take time for people to return to their behaviour before
the outbreak of COVID-19, the respiratory illness caused by the
new coronavirus.
"We are a bit concerned of the market rally we have seen in
risk assets,” said Athanasios Vamvakidis, global head of G10 FX
strategy at Bank of America Merrill Lynch. "We're still
risk-off, we still like the dollar."
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Currency bid prices at 9:40AM (1340 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Euro/Dollar EUR= $1.0852 $1.0820 +0.30% -3.19% +1.0861 +1.0810
Dollar/Yen JPY= 107.0000 107.5000 -0.47% -1.71% +107.6200 +107.0000
Euro/Yen EURJPY= 116.12 116.35 -0.20% -4.78% +116.5000 +116.1100
Dollar/Swiss CHF= 0.9741 0.9730 +0.11% +0.65% +0.9748 +0.9713
Sterling/Dollar GBP= 1.2432 1.2367 +0.53% -6.24% +1.2454 +1.2361
Dollar/Canadian CAD= 1.4058 1.4102 -0.31% +8.26% +1.4116 +1.4040
Australian/Doll AUD= 0.6465 0.6385 +1.25% -7.92% +0.6471 +0.6381
ar
Euro/Swiss EURCHF= 1.0570 1.0528 +0.40% -2.60% +1.0573 +1.0532
Euro/Sterling EURGBP= 0.8728 0.8749 -0.24% +3.24% +0.8754 +0.8710
NZ NZD= 0.6061 0.6018 +0.71% -10.02% +0.6075 +0.6003
Dollar/Dollar
Dollar/Norway NOK= 10.5626 10.5980 -0.33% +20.32% +10.6550 +10.5344
Euro/Norway EURNOK= 11.4633 11.4898 -0.23% +16.52% +11.5446 +11.4378
Dollar/Sweden SEK= 10.0282 10.0161 +0.12% +7.28% +10.0725 +9.9843
Euro/Sweden EURSEK= 10.8816 10.8685 +0.12% +3.94% +10.8955 +10.8362