March 28, 2018 / 2:35 PM / a month ago

FOREX-Dollar extends rebound from 5-week low; quarter-end flows help

    * Yen, Swiss franc slip vs. USD as trade war fears recede
    * Sterling buffeted by Brexit headlines, retail data

 (New throughout, updates rates and comments as of U.S. market
open; new byline, changes dateline; previous LONDON)
    By Saqib Iqbal Ahmed
    NEW YORK, March 28 (Reuters) - The dollar rose to a six-day
high against a basket of major currencies on Wednesday,
rebounding further from a five-week low touched the prior
session, supported by quarter-end flows into the greenback as
investors also shook off fears of a trade war.
    The dollar index, which measures the greenback
against a basket of six other major currencies, was up 0.47
percent at 89.794. The index has rallied nearly 1 percent since
hitting a five-week low of 88.942 on Tuesday.
    "I think what we are seeing is a continuation of bit of a
theme that started earlier this week, that is, we are seeing a
slight reduction in the overall level of concern about a looming
trade war," said Omer Esiner, chief market strategist with
Commonwealth Foreign Exchange in Washington.
    Global markets were shaken this month after U.S. President
Donald Trump moved to impose tariffs on Chinese goods and
Beijing threatened similar measures. But fears of a full-blown
trade war have eased on hopes negotiations can bring a
compromise.
    "That has translated into a moderating sense of concern and
that's why we are seeing kind of an unwinding of safe-haven
bets," Esiner said.
    "We did see a rather abrupt turnaround in U.S. equities
yesterday, but that was mostly tech-driven as opposed to a
sell-off that was driven by broader concerns," Esiner  said.
    The dollar rose 0.81 percent against the Japanese yen
and 0.85 percent against the Swiss franc, viewed as safe-haven
currencies in times of market turbulence.
    Quarter-end and month-end flows boosted the dollar as global
asset and fund managers rebalanced portfolios, analysts said.
Data showing fourth-quarter U.S. economic growth slowed less
than estimated also supported the greenback.
    The euro slipped 0.44 percent against the dollar, but was on
track for a fifth straight quarterly gain, the longest such
streak since 2008.
    Sterling was buffeted by crosswinds as growing
hopes Britain will propose a new solution for the Irish border
dispute was offset by disappointment over data showing British
retail sales fell in March for the first time in five months.
 
    Sterling was down 0.38 percent at $1.41.
    The Canadian dollar was slightly weaker against the
greenback ahead of Canadian economic data on Thursday.
 
    ========================================================
    Currency bid prices at 10:16AM (1416 GMT)
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct     High Bid    Low Bid
                                              Previous                   Change                 
                                              Session                                           
 Euro/Dollar      EUR=        $1.2348        $1.2401     -0.43%         +2.93%      +1.2422     +1.2336
 Dollar/Yen       JPY=        106.1800       105.3300    +0.81%         -5.76%      +106.3300   +105.3400
 Euro/Yen         EURJPY=     131.07         130.62      +0.34%         -3.04%      +131.7100   +130.6100
 Dollar/Swiss     CHF=        0.9549         0.9466      +0.88%         -1.99%      +0.9562     +0.9462
 Sterling/Dollar  GBP=        1.4103         1.4154      -0.36%         +4.37%      +1.4200     +1.4092
 Dollar/Canadian  CAD=        1.2905         1.2881      +0.19%         +2.61%      +1.2932     +1.2863
 Australian/Doll  AUD=        0.7668         0.7677      -0.12%         -1.70%      +0.7702     +0.7654
 ar                                                                                             
 Euro/Swiss       EURCHF=     1.1790         1.1742      +0.41%         +0.86%      +1.1803     +1.1738
 Euro/Sterling    EURGBP=     0.8754         0.8760      -0.07%         -1.45%      +0.8768     +0.8735
 NZ Dollar/Dolar  NZD=        0.7242         0.7267      -0.34%         +2.20%      +0.7274     +0.7238
 Dollar/Norway    NOK=        7.8272         7.7175      +1.42%         -4.63%      +7.8623     +7.7062
 Euro/Norway      EURNOK=     9.6685         9.5742      +0.98%         -1.83%      +9.7065     +9.5682
 Dollar/Sweden    SEK=        8.3079         8.2296      +0.52%         +1.29%      +8.3306     +8.2224
 Euro/Sweden      EURSEK=     10.2590        10.2064     +0.52%         +4.27%      +10.2975    +10.2062
 
    
 (Reporting by Saqib Iqbal Ahmed; Editing by David Gregorio)
  
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