FOREX-Dollar rallies on stronger risk appetite, bitcoin tops $15,000

Reuters

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    * Dollar/yen sheds losses as equities rebound 
    * Underlying optimism on US tax reform supports dollar 
    * Bitcoin hits record high of $14,870 
 
 (Updates prices, adds comment, changes byline, dateline from  
LONDON) 
    By Gertrude Chavez-Dreyfuss 
    NEW YORK, Dec 7 (Reuters) - The dollar rose to a two-week 
high against a basket of currencies on Thursday, recovering 
losses against the yen, on stronger risk appetite across markets 
and on optimism the United States will successfully push through 
a tax reform program.  
    The greenback slipped against the safe-haven yen on 
Wednesday after U.S. President Donald Trump said he would 
recognize Jerusalem as the capital of Israel, a move that 
imperiled Middle East peace efforts and provoked widespread 
condemnation.  urn:newsml:reuters.com:*:nL8N1O66E1 
    But as global stock prices edged higher on Thursday after 
three days of losses, investors bought back the dollar, which 
gained 0.4 percent on the day at 112.72 yen  JPY= .  
    Markets are now focused on Friday's U.S. non-farm payrolls 
report, with investors looking at 200,000 new jobs for November, 
according to a Reuters poll. 
    "Tomorrow's jobs report will play a significant factor in 
keeping the (dollar) rally alive and heightening hopes for an 
early 2018 rate hike," said Lennon Sweeting, chief market 
strategist at XE in Toronto. 
    Against a basket of currencies, the dollar hit a two-week 
high of 93.745.  .DXY   It was last up 0.1 percent at 93.696. 
    U.S. Senate Republicans agreed to talks with the House of 
Representatives on sweeping tax legislation on Wednesday, amid 
early signs lawmakers could bridge their differences and agree 
on a final bill ahead of a self-imposed Dec. 22 deadline. 
 urn:newsml:reuters.com:*:nL1N1O61VT     
    "Passage of U.S. tax reform is the main upside risk to 
economic growth, with far-reaching effects," wrote BofA Merrill 
Lynch analysts in a 2018 outlook.  
    But although most investors see the tax reform as a 
pro-growth policy that should support the dollar, not all 
analysts agree it would be straightforwardly dollar-positive.  
    "The corporate tax reform has the potential to have a 
significantly positive effect on the greenback, but due to other 
parts of the reform - those that are aimed at preventing tax 
base erosion," wrote Commerzbank currency strategists in a note 
to clients. 
    The move higher in dollar/yen came, meanwhile, amid a surge 
in Tokyo shares, which had slumped the previous day on Middle 
East concerns. 
    But considering the Nikkei's  .N225  gains - the index was 
up almost 1.5 percent - the dollar's rise versus the yen 
appeared limited. 
    The euro slipped to a two-week low of $1.1776  EUR=  against 
a stronger dollar. It was last slightly down on the day at 
$1.1787. 
    Bitcoin soared to a record high of $15,000 on the Bitstamp 
exchange, continuing a surge from less than $1,000 at the 
beginning of the year.  urn:newsml:reuters.com:*:nL8N1O74OD  
     
    ======================================================== 
    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                                            
 Euro/Dollar      EUR=        $1.1790        $1.1795     -0.04%         +12.15%     +1.1809     +1.1776 
 Dollar/Yen       JPY=        112.6600       112.2800    +0.34%         -3.60%      +112.7900   +112.2300 
 Euro/Yen         EURJPY=     132.83         132.44      +0.29%         +7.87%      +132.9500   +132.4100 
 Dollar/Swiss     CHF=        0.9919         0.9897      +0.22%         -2.54%      +0.9941     +0.9884 
 Sterling/Dollar  GBP=        1.3406         1.3392      +0.10%         +8.67%      +1.3427     +1.3321 
 Dollar/Canadian  CAD=        1.2855         1.2788      +0.52%         -4.28%      +1.2867     +1.2785 
 Australian/Doll  AUD=        0.7520         0.7563      -0.57%         +4.23%      +0.7569     +0.7515 
 ar                                                                                              
 Euro/Swiss       EURCHF=     1.1696         1.1675      +0.18%         +9.14%      +1.1707     +1.1669 
 Euro/Sterling    EURGBP=     0.8792         0.8805      -0.15%         +3.22%      +0.8849     +0.8782 
 NZ Dollar/Dolar  NZD=        0.6838         0.6881      -0.62%         -1.48%      +0.6888     +0.6830 
 Dollar/Norway    NOK=        8.2819         8.2694      +0.15%         -4.11%      +8.3072     +8.2650 
 Euro/Norway      EURNOK=     9.7651         9.7545      +0.11%         +7.48%      +9.7958     +9.7441 
 Dollar/Sweden    SEK=        8.4583         8.4327      +0.25%         -7.13%      +8.4689     +8.4222 
 Euro/Sweden      EURSEK=     9.9732         9.9479      +0.25%         +4.11%      +9.9895     +9.9367 
  
     
    
All spots FX=  
Tokyo spots AFX=  
Europe spots EFX=  
Volatilities FXVOL=  
Tokyo Forex market info from BOJ TKYFX World central bank news 
CEN 
Economic Forecasts... ECON   Official rates...INT/RATE 
Forex Diary.......MI/DIARY   Top events........M/DIARY 
Diaries...........DIARY Diaries Index........IND/DIARY 
Press Digests.....PRESS Polls on G7 economies..SURVEY/ 
European markets......MARKETS/)) 
 
    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ 
World FX rates in 2017    http://tmsnrt.rs/2egbfVh 
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> 
 (Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by 
Jemima Kelly in London; Editing by Susan Thomas) 
 ((gertrude.chavez@thomsonreuters.com; 646-223-6322; Reuters 
Messaging: rm://gertrude.chavez.reuters.com@reuters.net)) 
 
Keywords: GLOBAL FOREX/  
     

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