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USD, JPY on Back Foot as Risk Sentiment Revives; Musk Buoys BTC

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TOKYO Reuters The safeharbour U.S. dollar and yen were on the back foot on Thursday, after pulling back from multimonth highs amid a recovery in risk appetite as strong earnings lifted Wall Street stocks.

Cryptocurrencies held gains after Tesla Inc CEO Elon Musk said the company would most likely resume accepting bitcoin for payment.

The dollar index, which measures the currency against six major peers, stood at 92.770 after pulling back from a 3 12month high of 93.194 touched on Wednesday.

The yen traded at 129.950 per euro, from an almost fourmonth top of 128.610 earlier this week, and at 81.07 to Australias dollar, from a 5 12month peak of 79.85.

Strong earnings have swept away Delta concerns in the U.S., weighing on haven currencies, National Australia Bank analyst Tapas Strickland wrote in a note to clients.

The consensus is that the Delta strain does not pose an immediate risk to the recovery, delaying reopening by three months at the most as countries ramp up vaccination drives in response, he said.

Sterling traded at 1.3717, recovering from a 5 12month trough of 1.35725 reached on Tuesday, despite rising Delta variant cases in Britain and confusion about the lifting of restrictions in England.

The Aussie changed hands at 0.7350, from an eightmonth low of 0.72895 the previous day, even as coronavirus cases spiked despite half the Australian population being under lockdown.

The euro stood at 1.1789, rising off Wednesdays 312month low of 1.1752 ahead of a…

Euro just off 312mth Low vs Dollar preECB

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