* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh
(Updates prices, adds detail and investor comment, previous NEW
YORK)
By Noel Randewich
June 22 (Reuters) - The U.S. dollar weakened and higher-risk
currencies including the Australian dollar jumped on Monday as
investors focused on the prospect for an eventual economic
recovery from the coronavirus pandemic.
Traders bought riskier currencies even after signs of
setbacks in the battle to contain the coronavirus.
The World Health Organization (WHO) reported a record
increase in global novel coronavirus cases on Sunday, with North
America and South America showing the largest rises.
On Friday, Apple Inc AAPL.O said it was temporarily
shutting some stores again in Florida, Arizona, South Carolina,
and North Carolina due to fresh outbreaks in the U.S. states.
"The market is looking ahead to the second half of the year,
when it expects the recovery to begin in earnest," said Joe
Manimbo, senior market analyst at Western Union Business
Solutions, in Washington. "Conviction is really lacklustre, so
sentiment can certainly change on a dime, but for now the market
is taking the view of the glass half full."
Strong economic data has raised hopes the economy will
bounce back quickly from business shutdowns to stem the spread
of the virus.
Francesco Pesole, FX strategist at ING, said investors were
watching the extent to which new cases led to tighter lockdown
measures.
"If markets start to make the connection that more cases
will automatically imply new lockdowns then obviously it will
get much more sensitive to any new peak in terms of second
wave," Pesole said.
The dollar dipped 0.64% against a basket of currencies
=USD to 97.06.
The euro EUR= gained 0.72% versus the dollar to 1.1256,
rising off recent two-and-a-half-week lows.
On Friday, EU leaders agreed urgent action was needed to
haul their economies from the deepest recession since World War
Two, but made no progress on a massive stimulus plan that has
divided them for weeks. Riskier currencies outperformed, with the Australian dollar
AUD= rallying 1.21% to $0.6915 against the greenback.
Emboldening buyers of the Australian dollar, Reserve Bank of
Australia (RBA) Governor Philip Lowe said the currency's recent
rise was not a problem and the impact of the pandemic would not
be as bad as feared. A broad gauge of dollar positioning NETUSDALL= on Friday
showed speculators increased their short bets against the
greenback to the most since May 2018, at $16.27 billion.
Currency bid prices at 2:57 pm ET (1857 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Euro/Dollar EUR= $1.1256 $1.1175 +0.72% +0.41% +1.1269 +1.1169
Dollar/Yen JPY= 106.9300 106.8700 +0.06% -1.76% +107.0000 +106.7800
Euro/Yen EURJPY= 120.38 119.43 +0.80% -1.29% +120.4100 +119.3200
Dollar/Swiss CHF= 0.9474 0.9523 -0.51% -2.11% +0.9528 +0.9466
Sterling/Dollar GBP= 1.2472 1.2356 +0.94% -5.94% +1.2477 +1.2336
Dollar/Canadian CAD= 1.3528 1.3603 -0.55% +4.17% +1.3630 +1.3518
Australian/Doll AUD= 0.6915 0.6832 +1.21% -1.51% +0.6922 +0.6806
ar
Euro/Swiss EURCHF= 1.0668 1.0640 +0.26% -1.70% +1.0674 +1.0640
Euro/Sterling EURGBP= 0.9023 0.9049 -0.29% +6.73% +0.9065 +0.9021
NZ NZD= 0.6483 0.6405 +1.22% -3.76% +0.6494 +0.6372
Dollar/Dollar
Dollar/Norway NOK= 9.5902 9.6405 -0.52% +9.25% +9.7137 +9.5754
Euro/Norway EURNOK= 10.7957 10.7733 +0.21% +9.74% +10.8665 +10.7339
Dollar/Sweden SEK= 9.3637 9.4673 -0.51% +0.17% +9.4718 +9.3554
Euro/Sweden EURSEK= 10.5427 10.5970 -0.51% +0.70% +10.5975 +10.5340
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