June 29, 2020 / 1:54 PM / 8 days ago

FOREX-Dollar weakens on improving risk sentiment, coronavirus concerns remain

    * Graphic: World FX rates in 2019 tmsnrt.rs/2egbfVh

 (Adds details, updates prices; changes byline, dateline;
previous LONDON)
    By Karen Brettell
    NEW YORK, June 29 (Reuters) - The dollar fell on Monday as
stocks opened higher, indicating improving risk sentiment
despite a rise in coronavirus cases.
    Wall Street's gain came after a sharp drop on Friday.
    “It’s a weak start for the U.S. currency, I think it’s
mostly risk on,” said Joe Manimbo, senior market analyst at
Western Union Business Solutions in Washington.
    Investors have been weighing better economic data against a
new uptick in COVID-19 infections.
    The global death toll from the virus reached half a million
on Sunday, according to a Reuters tally. Cases surged in
Southern and Western U.S. states, prompting California to order
some bars to close in a rollback of efforts to reopen the
economy.
    The next major U.S. economic focus will be Thursday’s jobs
report for June.
    U.S. employers are expected to have added 3 million jobs
during the month, according to the median estimate of economists
polled by Reuters. Projections vary widely between economists,
however, from as few as 405,000 jobs to as many as 9 million.
    The dollar index was last down 0.21% at 97.27.
    The greenback may get some boost from quarter-end demand
later on Monday or on Tuesday, after underperforming this
quarter, analysts said.

    
    The euro gained 0.47% to $1.1270.
    The dollar gained 0.21% against the Japanese yen to
107.44 yen.
    Sterling weakened to a one-month low against the greenback
on concerns about how Britain's government will pay for its
planned infrastructure program.
    There are also doubts about whether Britain will seal a
trade pact with the European Union as little progress has been
made in agreeing Britain's future relationship with the bloc,
which it exited on Jan. 31.
    The pound was last down 0.26% at $1.2301. 

    ========================================================
    Currency bid prices at 9:33AM (1333 GMT)
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct     High Bid    Low Bid
                                              Previous                   Change                 
                                              Session                                           
 Euro/Dollar      EUR=        $1.1270        $1.1217     +0.47%         +0.54%      +1.1288     +1.1218
 Dollar/Yen       JPY=        107.4400       107.2100    +0.21%         -1.30%      +107.4600   +107.0500
 Euro/Yen         EURJPY=     121.10         120.27      +0.69%         -0.70%      +121.1800   +120.1800
 Dollar/Swiss     CHF=        0.9465         0.9479      -0.15%         -2.20%      +0.9481     +0.9442
 Sterling/Dollar  GBP=        1.2301         1.2333      -0.26%         -7.23%      +1.2389     +1.2301
 Dollar/Canadian  CAD=        1.3673         1.3688      -0.11%         +5.29%      +1.3697     +1.3646
 Australian/Doll  AUD=        0.6856         0.6860      -0.06%         -2.35%      +0.6890     +0.6844
 ar                                                                                             
 Euro/Swiss       EURCHF=     1.0670         1.0634      +0.34%         -1.68%      +1.0674     +1.0636
 Euro/Sterling    EURGBP=     0.9160         0.9093      +0.74%         +8.35%      +0.9171     +0.9085
 NZ               NZD=        0.6416         0.6423      -0.11%         -4.75%      +0.6442     +0.6408
 Dollar/Dollar                                                                                  
 Dollar/Norway    NOK=        9.6737         9.6625      +0.12%         +10.20%     +9.7315     +9.6492
 Euro/Norway      EURNOK=     10.9045        10.9059     -0.01%         +10.84%     +10.9309    +10.8540
 Dollar/Sweden    SEK=        9.2873         9.3297      -0.02%         -0.64%      +9.3527     +9.2752
 Euro/Sweden      EURSEK=     10.4728        10.4753     -0.02%         +0.03%      +10.5105    +10.4540
 
    
    

    
 (Additional reporting by Elizabeth Howcroft in London)
  
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