FOREX-Dollar edges up, yen falls as easing lockdowns boosts risk appetite

* Dollar lifts slightly; Japanese yen falls 0.5%
* Markets look for recovery from global pandemic
* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh

LONDON, May 11 (Reuters) - The dollar edged up in early
London trading on Monday while the Japanese yen weakened as risk
appetite was boosted by more countries making moves to re-open
their economies, despite the coronavirus continuing to spread.
Japan said on Monday it could end its state of emergency in
many regions this week and New Zealand said it could ease
restrictions on Thursday. The UK has also set out plans to ease
the lockdown while in France shops re-opened on Monday.
The safe-haven Japanese yen hit a 10-day low versus the
dollar, down more than 0.5% since New York's close JPY=EBS .
Against a basket of comparable currencies, the dollar up around
0.1% =USD .
"The ongoing improvement in global investor risk sentiment
following acute financial market strains in March reflects in
part building investor optimism that the global economy is past
the worst point of the COVID-19 crisis," Lee Hardman, currency
analyst at MUFG, wrote in a note to clients.
A conciliatory phone call between U.S. and China trade
negotiators on Friday also provided a boost to risk appetite, as
it staved off fears of an imminent new round of U.S. tarrifs,
even after U.S. President Donald Trump said he was "very torn"
over whether or not to end the preliminary phase one trade deal
between the two countries. The euro was down slightly, having fallen in early London
trading, last down around 0.1% versus the dollar at $1.0832
EUR=EBS .
The riskier Australian dollar was up slightly AUD=D3 ,
while the New Zealand dollar was down 0.2%, having fallen from
around 0400 GMT NZD=D3 .
The Norwegian crown hit new monthly highs versus the dollar
at 0600 GMT, extending its decline from a late April lowpoint,
last up around 0.3% NOK=D3 .
Easing lockdowns is interpreted as positive by traders as it
enables economic activity curtailed by the coronavirus to
resume. Lifting the lockdowns too early, however, risks
triggering another wave of the new coronavirus.
South Korea warned of a second wave of the virus as
infections rebounded to a one-month high and new infections have
accelerated in Germany. The U.S. economy shed 20.5 million jobs in April, and the
unemployment rate rose to 14.7%, a government report on Friday
showed. The true unemployment rate may be closer to 19.5%.
Swiss franc site deposit data due on Monday is expected to
show another large rise, which would support the theory that the
Swiss National Bank wants to prevent the euro-franc exchange
rate from going below 1.05, ING analysts wrote in a note to
clients EURCHF=EBS .
The franc was last down around 0.1% versus the euro as
demand for safe-havens eased, at 1.05295 EURCHF=EBS .