FOREX-Euro set for seventh day of gains, dollar loses to riskier assets

* Euro/Swiss franc highest since January
* Dollar index falls to nearly 3-month low
* Australian dollar highest in 5 months vs US dollar
* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh

By Olga Cotaga
LONDON, June 3 (Reuters) - The euro topped an 11-week high
on Wednesday, on track for a seven-day winning streak, with the
dollar falling against most currencies as the prospects of more
stimulus and hopes for economic recovery emboldened investors to
buy riskier assets.
The Australian dollar hit a five-month high of 0.6982
against the greenback AUD=D4 , as funds sought exposure to
economies expected to make the fastest recoveries from the
coronavirus pandemic.
The U.S. dollar also fell against the British pound, the
Norwegian and Swedish crowns, and the Canadian dollar as mass
protests against racism across the United States weighed.
An index following the dollar against six major currencies
=USD fell to nearly a three-month low of 97.32.
"The strengthening of the risk-linked Aussie and Kiwi,
combined with the weakness of the safe-havens dollar, yen, and
franc, suggests that investors continued increasing their risk
exposures for another day," Charalambos Pissouros, senior market
analyst at JFD Group, said.
"It seems that investors are still looking past the
U.S.-China tensions and the civil unrest in the U.S.," he said.
President Donald Trump has threatened to use the military to
quell spreading protests against racism and police brutality.
U.S. stocks continue to rally, however, leaving some currency
traders confused about the market's direction. Generally, participants preferred to bet on a global
economic recovery as governments ease lockdown measures, despite
the threat that unrest in the United States could halt progress.
Dollar/yen was last neutral at 108.65 JPY=EBS .
The euro reached an 11-week high of $1.1125 on expectations
policymakers will support the euro zone's weakest economies with
debt purchases. The common currency was last up 0.5%. The
seven-day winning streak was the longest since December 2013.
The euro also rose against the Swiss franc to $1.0797
EURCHF=EBS , the highest since Jan. 14.
The European Central Bank is expected to increase its 750
billion euro ($839.25 billion) bond-buying programme, the
Pandemic Emergency Purchase Programme, when it meets on
Thursday.
The Chinese yuan rose to nearly a one-month high of 7.0883
against the dollar in the offshore market CNH=EBS .
The coronavirus first emerged in China late last year, but
it is also the first major economy to ease severe lockdown
restrictions, making it likely to recover earlier than other
countries.
The Norwegian crown hit a three-month high of 9.4735 against
the U.S. dollar NOK=D3 , last trading up 1%.
The New Zealand dollar was up 0.7% NZD=D4 , having reached
earlier a three-month high.

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