FOREX-Dollar wobbles as fresh hopes for virus treatment prop up risk appetite

* Trump unveils re-opening template; positive report on
virus drug
* Aussie, kiwi lead gains as dollar heads for flat week
* China GDP slump eyed at 0200 GMT
* Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E

By Tom Westbrook
SINGAPORE, April 17 (Reuters) - The dollar slipped on Friday
after a media report on early signs that a COVID-19 treatment
drug was working, as well as optimism about re-opening the
world's largest economy, encouraged investors in to riskier
currencies.
The Australian and New Zealand dollars led gains, with the
kiwi NZD=D3 jumping as much as 1% to $0.6023, while the pound
and euro also rose to recoup some of the past two days' losses.
Medical news website STAT, citing a recorded discussion
between doctors involved in a clinical trial, said most of 125
patients given Gilead's GILD.O remdesivir drug at a hospital
in Chicago had recovered and been discharged. Gilead said anecdotal reports do not provide the data needed
to determine the safety or efficacy of remdesivir as a treatment
for COVID-19 and that it expects more data will be available at
the end of the month. "The market is looking for good news - grasping and hoping
and praying," said Imre Speizer, FX analyst at Westpac. "People
just want to get on the positive bandwagon."
The dollar last sat at $1.0857 per euro EUR= and $1.2486
per pound GDP= and a fraction weaker at 107.83 yen JPY= .
The Australian and New Zealand dollars held just below
session highs, with the Aussie AUD=D3 at $0.6363 and the kiwi
at $0.5998.
The dollar has closely tracked risk sentiment through the
coronavirus crisis and remains at elevated levels as the safety
of cash in the world's reserve currency stays in demand.
Friday's dip reverses two days of gains on warnings of a
Great Depression-style slump in the world economy, though it is
set to end the week steady as optimism returns. MKTS/GLOB
U.S. President Donald Trump on Thursday announced guidelines
for a return to work in the world's biggest economy - a gradual,
three-stage process dependent on robust virus testing and
subject to state governors' discretion. But the crisis has already turned some 22 million Americans
out of work, and further market moves were capped by Gilead's
staid response and more worries on the economic outlook.
Chinese gross domestic product data due around 0200 GMT is
expected to show Q1 growth contracted for the first time since
quarterly records began in 1992. First quarter growth is seen dropping 6.5%, according to a
Reuters' poll of economists who also see 2020 growth at 2.5%,
its weakest since 1976, the final year of the decade-long
Cultural Revolution that wrecked the economy. lift in sentiment defies more hard evidence of
macro-economic damage," said Michael McCarthy, market strategist
at brokerage CMC Markets in Sydney.