FOREX-U.S. dollar rises on weaker euro, Swiss franc and yen

  • Reuters
  • Forex News
FOREX-U.S. dollar rises on weaker euro, Swiss franc and yen

*

* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E

By David Henry and Ritvik Carvalho

NEW YORK/LONDON, Feb 1 (Reuters) - The U.S. dollar bounced to a 2-week high on Monday on weakness in the euro, Swiss franc and Japanese yen amid views that the U.S. has an advantage in growing its economy and vaccinating its population against COVID-19.

The dollar index =USD was up 0.21% to 90.815 at mid-morning in New York, while the euro EUR=EBS was off 0.36% to $1.209. Against the Swiss franc CHF=EBS the dollar was up 0.45%.

The euro weakened after Germany reported that retail sales plunged by an unexpected 9.6% in December after tighter lockdowns last year to curb the spread of COVID-19 choked consumer spending in Europe's largest economy. dollar may be more resilient in the near-term because "both growth and vaccination favour the U.S," said Kamal Sharma, director of G10 FX strategy at BofA Merrill Lynch Global Research.

U.S.-based strategists at Wells Fargo (NYSE: WFC ) Securities wrote, "We think USD strength still has room to run." That's especially true against more volatile securities, they added.

The Australian and New Zealand dollars gave up early gains and were down 0.1% and 0.11%, respectively, against the greenback. AUD= NZD=

The U.S. dollar also gained 0.3% against the Norwegian crown to 8.5815 crowns per dollar. NOK=

Jens Naervig Pedersen, chief analyst for FX and rates strategy at Danske Bank, noted the Norway central bank's Friday announcement of a surprisingly large increase in the daily pace of its fiscal Norwegian crown buying from 800 million crowns in January to 1,700 million in February. ========================================================

Currency bid prices at 10:17AM (1517 GMT) Description

RIC

Last

U.S. Close Pct Change

YTD Pct

High Bid

Low Bid

Previous

Change

Session

Dollar index

=USD

90.8150

90.6280

+0.21%

+0.00%

+90.9240

+90.5010 Euro/Dollar

EUR=EBS

$1.2094

$1.2139

-0.36%

-1.01%

+$1.2145

+$1.2069 Dollar/Yen

JPY=D3

104.9150

104.7250

+0.24%

+1.64%

+104.9850 +104.6550 Euro/Yen

EURJPY=

126.90

127.07

-0.13%

-0.02%

+127.1200 +126.6700 Dollar/Swiss

CHF=EBS

0.8948

0.8909

+0.45%

+1.15%

+0.8965

+0.8908 Sterling/Dollar GBP=D3

$1.3681

$1.3693

-0.07%

+0.15%

+$1.3757

+$1.3668 Dollar/Canadian CAD=D3

1.2805

1.2775

+0.27%

+0.60%

+1.2819

+1.2763 Aussie/Dollar

AUD=D3

$0.7627

$0.7642

-0.18%

-0.84%

+$0.7662

+$0.7606 Euro/Swiss

EURCHF=

1.0820

1.0808

+0.11%

+0.12%

+1.0827

+1.0803 Euro/Sterling

EURGBP=

0.8838

0.8852

-0.16%

-1.11%

+0.8856

+0.8805 NZ

NZD=D3

$0.7175

$0.7184

-0.11%

-0.07%

+$0.7202

+$0.7151 Dollar/Dollar

Dollar/Norway

NOK=D3

8.5815

8.5650

+0.30%

+0.05%

+8.6195

+8.5590 Euro/Norway

EURNOK=

10.3806

10.4099

-0.28%

-0.83%

+10.4330

+10.3682 Dollar/Sweden

SEK=

8.4146

8.3589

+0.29%

+2.66%

+8.4266

+8.3263 Euro/Sweden

EURSEK=

10.1752

10.1455

+0.29%

+0.99%

+10.1885

+10.1360

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ World FX rates

https://tmsnrt.rs/2RBWI5E Dollar hits 2-week high

https://tmsnrt.rs/39BR4Ms

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

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