FOREX-Dollar dips to more than one-week low; FX risk sentiment upbeat overall

Reuters

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    * Mnuchin defends decision to end Fed's pandemic lending
    * Dollar poised to end week on a loss
    * Euro, yen little changed vs dollar
    * Bitcoin hits fresh three-year high
    * Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E

 (Adds new comment, updates prices, FX table, changes byline, dateline; previous LONDON)
    By Gertrude Chavez-Dreyfuss
    NEW YORK, Nov 20 (Reuters) - The dollar slipped to a more than one-week low on Friday, while
currencies that benefit from higher risk appetite rose as investors focused on the possible resumption of
talks for additional coronavirus stimulus. 
     Republican and Democratic senators agreed on Thursday to revive those discussions, pushing the dollar
lower after trading higher all day. urn:newsml:reuters.com:*:nL1N2I52CI
     Overall, the greenback was on track to end the week on a loss. The week started off on a negative
note for the dollar with positive news on a vaccine for COVID-19, but the market has since moved back and
forth between focusing on coronavirus cases and the virus drug.
    "You really cannot take things by the day anymore. What has been happening since Monday is that there
has been a tremendous buzz of positivity because of anything related to a vaccine that can possibly be
distributed," said Juan Perez, senior currency analyst at Tempus Inc in Washington.
    "That feeling is very strong one day and weak the next and that's how the market has been behaving.
These swings will continue because there is no definite direction," he added.
    Pfizer Inc  PFE.N  said it had applied for emergency use authorization in the United States for its
COVID-19 vaccine.  urn:newsml:reuters.com:*:nL4N2I62KF
     U.S. Treasury Secretary Steven Mnuchin, meanwhile, defended his decision to end several of the
Federal Reserve's key pandemic lending programs on Dec. 31, saying Congress should use the money to help
small U.S. companies with grants instead.  urn:newsml:reuters.com:*:nW1N2HP06S
    The dollar briefly rose overnight after the Mnuchin news late Thursday.  urn:newsml:reuters.com:*:nL1N2I52W1 urn:newsml:reuters.com:*:nL1N2I608V
    In mid-morning trading, the dollar was down 0.1% at 92.281 in a quiet day for currency markets.
    The dollar has fallen for eight out of the last 10 sessions, as currency traders' appetite for risk
increased.
    The euro was flat against the dollar at $1.1870  EUR=EBS , on track for a small weekly gain.
    European Union leaders clashed on Thursday over Hungary and Poland vetoing the bloc's 1.8
trillion-euro ($2.14 trillion) recovery plan but decided to allow more time for an agreement. The euro was
unaffected.  urn:newsml:reuters.com:*:nL1N2I50LT
    The Australian dollar - seen as a liquid proxy for risk appetite - was on track for its best monthly
gain versus the U.S. dollar since April. It last traded up  0.4% at US$0.7313  AUD=D3 . 
    The New Zealand dollar hit new two-year highs of US$0.6949  NZD=D3 , helped by positive risk appetite.
It was last up 0.3% at US$0.6941 
    The U.S. dollar was flat versus the Japanese yen at 103.72  JPY=EBS .
    U.S. President Donald Trump will meet with Republican leaders from Michigan at the White house on
Friday, as his campaign pursues an increasingly desperate bid to overturn the Nov. 3 election result.
 urn:newsml:reuters.com:*:nL1N2I605N urn:newsml:reuters.com:*:nL1N2I52VW
    Elsewhere,  Bitcoin  BTC=BTSP  rose to a three-year high of $18,600 on Friday, up 4.5% on the day and
close to its all-time high of just under $20,000.
    
    ========================================================
    Currency bid prices at 10:25AM (1525 GMT)
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct     High Bid    Low Bid
                                              Previous                   Change                 
                                              Session                                           
 Dollar index      =USD       $92.2730       92.3750     -0.10%         +0.00%      +92.4170    +92.2010
 Euro/Dollar       EUR=EBS    $1.1870        $1.1873     -0.03%         +5.88%      +1.1891     +1.1851
 Dollar/Yen        JPY=D3     103.7250       103.7650    +0.01%         -4.45%      +103.9050   +103.7500
 Euro/Yen          EURJPY=    123.11         123.18      -0.06%         +0.95%      +123.4700   +123.0600
 Dollar/Swiss      CHF=EBS    0.9102         0.9107      -0.07%         -5.95%      +0.9123     +0.9093
 Sterling/Dollar   GBP=D3     1.3284         1.3265      +0.16%         +0.17%      +1.3292     +1.3249
 Dollar/Canadian   CAD=D3     1.3050         1.3073      -0.17%         +0.46%      +1.3088     +1.3039
 Aussie/Dollar     AUD=D3     0.7313         0.7283      +0.42%         +4.23%      +0.7324     +0.7267
 Euro/Swiss        EURCHF=    1.0803         1.0810      -0.06%         -0.45%      +1.0823     +1.0795
 Euro/Sterling     EURGBP=    0.8934         0.8955      -0.23%         +5.68%      +0.8962     +0.8925
 NZ                NZD=D3     0.6942         0.6922      +0.30%         +3.18%      +0.6950     +0.6905
 Dollar/Dollar                                                                                  
 Dollar/Norway     NOK=D3     8.9935         8.9880      +0.09%         +2.55%      +9.0470     +8.9700
 Euro/Norway       EURNOK=    10.6745        10.6890     -0.14%         +8.50%      +10.7548    +10.6494
 Dollar/Sweden     SEK=       8.6100         8.5977      +0.16%         -7.89%      +8.6245     +8.5847
 Euro/Sweden       EURSEK=    10.2200        10.2035     +0.16%         -2.38%      +10.2340    +10.2026
 
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Dollar index    https://tmsnrt.rs/35KItoI
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 (Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Elizabeth Howcroft in LONDON)
 ((gertrude.chavez@thomsonreuters.com; 646-301-4124; Reuters Messaging:
rm://gertrude.chavez.reuters.com@reuters.net))

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