* Dollar on track for largest monthly fall since July
* Euro hits 3-month vs dollar
* Bitcoin jumps to record high vs dollar
* Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E
(Adds new comments, bitcoin, FX table, changes byline, dateline, previous LONDON)
By Gertrude Chavez-Dreyfuss
NEW YORK, Nov 30 (Reuters) - The dollar hit its lowest in two and a half years on Monday as broad risk
sentiment improved overall, with investors looking to President-elect Joe Biden's economic team that is
likely to push for more stimulus to counter the shock from the coronavirus pandemic.
The greenback was on course to post its worst monthly percentage loss since July.
Continued month-end dollar selling has also undermined the dollar on Monday, as global fund managers
rebalanced their portfolios amid sharp gains in U.S. stocks, analysts said.
In contrast, bitcoin on Monday hit an all-time high of $19,864 and was last up 8.3% at $19,707 BTSP .
Hopes for further stimulus and a series of positive COVID-19 vaccine announcements has seen global
market sentiment rally this month, prompting the dollar to fall and riskier currencies to strengthen.
Joe Manimbo, senior market analyst, at Western Union Business Solutions in Washington, said sentiment
on the dollar as a safe haven has dimmed on "expectations that the incoming Biden administration would
come with fewer impediments to global growth."
He also expects the Federal Reserve to "maintain or redouble stimulus to keep a wavering recovery on
track."
President-elect Joe Biden unveiled his picks for several top economic positions on Monday, including
former Federal Reserve Chair Janet Yellen as his nominee for Treasury Secretary, setting the stage for a
more diverse White House. On the last day of the month, the dollar index was down 0.2% at 91.558 =USD
The euro rose to three-month highs versus the dollar of $1.20 EUR=EBS . The European Central Bank
earlier signalled earlier this year it was carefully monitoring the euro-dollar exchange rate.
"We are reluctant to chase it higher amid stretched technical indicators and data showing divergence
favoring the U.S., and ahead of the ECB meeting that is likely to be dovish." said Marc Chandler, chief
market strategist, at Bannockburn Global Forex.
The dollar was flat to slightly lower against the Chinese yuan in the offshore market, at 6.5727
CNH=EBS .
Monday's data showed China's manufacturing grew at its fastest pace in more than three years in
November, while services sector growth hit a three-year high, data on Monday showed. The offshore yuan was on course for its longest streak of monthly gains in six years, boosted by
China's economic recovery from the coronavirus and steady capital inflows.
Meanwhile the New Zealand dollar was poised for its biggest monthly gain since late 2013, helped by a
perception that the improving global economic outlook lessens the risk of negative rates. It was last up
0.2% at US$0.7048, having hit a new two-year high overnight NZD=D3 .
Brexit negotiations, meanwhile, remain the focus for the pound, which rose 0.4% versus the dollar to
$1.3373 GBP=D3 , with the euro slightly down at 89.708 pence EURGBP=D3 .
Britain and the European Union are running out of time to agree on a Brexit trade deal, but if good
progress is made this week the talks could be extended, Britain's environment secretary said. Currency bid prices at 10:36AM (1536 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Dollar index =USD $91.5920 91.7240 -0.13% +0.00% +91.7620 +91.5040
Euro/Dollar EUR=EBS $1.1992 $1.1965 +0.23% +6.97% +1.2004 +1.1959
Dollar/Yen JPY=D3 104.1650 104.0500 +0.11% -4.10% +104.3450 +103.8500
Euro/Yen EURJPY= 124.90 124.50 +0.32% +2.42% +125.1100 +124.3100
Dollar/Swiss CHF=EBS 0.9048 0.9045 +0.03% -6.50% +0.9052 +0.9020
Sterling/Dollar GBP=D3 1.3353 1.3318 +0.27% +0.69% +1.3383 +1.3305
Dollar/Canadian CAD=D3 1.2937 1.2985 -0.35% -0.39% +1.2995 +1.2923
Aussie/Dollar AUD=D3 0.7371 0.7384 -0.17% +5.05% +0.7407 +0.7367
Euro/Swiss EURCHF= 1.0848 1.0818 +0.28% -0.04% +1.0851 +1.0804
Euro/Sterling EURGBP= 0.8978 0.8980 -0.02% +6.20% +0.9000 +0.8958
NZ NZD=D3 0.7039 0.7035 +0.06% +4.61% +0.7050 +0.7018
Dollar/Dollar
Dollar/Norway NOK=D3 8.8295 8.8300 +0.01% +0.67% +8.8670 +8.7850
Euro/Norway EURNOK= 10.5905 10.5560 +0.33% +7.65% +10.6170 +10.5289
Dollar/Sweden SEK= 8.5011 8.4795 +0.46% -9.05% +8.5105 +8.4447
Euro/Sweden EURSEK= 10.1941 10.1473 +0.46% -2.63% +10.1965 +10.1248
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