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FOREX-Dollar falters as decent U.S. data curbs haven demand

    * ADP jobs report in June shows hiring
    * U.S. manufacturing data rises
    * Graphic: World FX rates in 2019 tmsnrt.rs/2egbfVh

 (Recasts, adds new comment, U.S. data, FX table, updates prices, changes byline, dateline; previous
LONDON)
    By Gertrude Chavez-Dreyfuss
    NEW YORK, July 1 (Reuters) - The dollar slipped on Wednesday in choppy trading, with the market having
a modest appetite for risk-taking amid generally upbeat U.S. data and improving European economic numbers.
    The greenback fell against currencies that perform well in times of times of risk appetite such as the
Australian, New Zealand, and Canadian dollars, as well as sterling.
    However, moves in the currency market have little conviction, as doubts mounted about a
much-anticipated global economic recovery given the resurgence of U.S. cases of COVID-19, the illness
caused by the novel coronavirus, and the threat of renewed lockdowns in U.S. states deemed hot spots.
    "There's definitely a risk-on tone to the market, which continues to bet on the fact that we're past
the worst point of COVID. But I think the jury is still out on that judgment," said Boris Schlossberg,
managing director at BK Asset Management in New York.
    "There's a significant risk of reclosing some of the states. There's still a lot of risk-off flows,
and the dollar could be the beneficiary of those flows," he added.    
    The dollar reacted little to the ADP National Employment Report, which showed private payrolls
increased by 2.369 million jobs last month. Data for May was revised upward to show payrolls surging 3.065
million, in line with a surprise rebound in job growth reported by the government, instead of tumbling
2.76 million as previously estimated.
    The dollar did lose ground as a safe haven, after U.S. manufacturing data showed a reading that
suggested an expansion for the month of June.
    In Europe, IHS Markit's final euro zone Manufacturing Purchasing Managers' Index (PMI) moved closer to
the 50 mark separating growth from contraction in June with transmission rates of the coronavirus falling
in much of Europe and economies opening.
    Germany's manufacturing sector also contracted at a slower pace as Europe's largest economy lifted
restrictions.
    In midmorning trading, the dollar was down 0.3% against a basket of currencies at 97.145.
    Although the dollar has acted as a haven currency for much of the coronavirus crisis, U.S.
fundamentals have played a bigger role recently, meaning it can appreciate on better-than-expected data.

    Against the yen, the dollar fell 0.5% to 107.42 yen. Analysts said the yen's rise was safe
haven-related given the declining stock markets, especially in Asia.
    The euro, meanwhile, rose 0.3% to $1.1258, after a rally in which the euro gained 6% against
the dollar in May and early June.
    The Australian and New Zealand dollars both rose against the greenback.
    
    ========================================================
    Currency bid prices at 10:10AM (1410 GMT)
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct     High Bid    Low Bid
                                              Previous                   Change                 
                                              Session                                           
 Euro/Dollar      EUR=        $1.1258        $1.1231     +0.24%         +0.43%      +1.1262     +1.1186
 Dollar/Yen       JPY=        107.4400       107.9200    -0.44%         -1.30%      +108.1600   +107.3700
 Euro/Yen         EURJPY=     120.96         121.22      -0.21%         -0.80%      +121.4700   +120.2700
 Dollar/Swiss     CHF=        0.9457         0.9471      -0.15%         -2.28%      +0.9493     +0.9458
 Sterling/Dollar  GBP=        1.2439         1.2399      +0.32%         -6.18%      +1.2442     +1.2360
 Dollar/Canadian  CAD=        1.3569         1.3573      -0.03%         +4.49%      +1.3593     +1.3545
 Australian/Doll  AUD=        0.6936         0.6902      +0.49%         -1.21%      +0.6938     +0.6878
 ar                                                                                             
 Euro/Swiss       EURCHF=     1.0651         1.0641      +0.09%         -1.87%      +1.0651     +1.0613
 Euro/Sterling    EURGBP=     0.9050         0.9057      -0.08%         +7.05%      +0.9079     +0.9022
 NZ               NZD=        0.6480         0.6452      +0.43%         -3.80%      +0.6482     +0.6441
 Dollar/Dollar                                                                                  
 Dollar/Norway    NOK=        9.5198         9.6150      -0.99%         +8.45%      +9.6367     +9.5203
 Euro/Norway      EURNOK=     10.7217        10.8110     -0.83%         +8.98%      +10.8280    +10.6990
 Dollar/Sweden    SEK=        9.3024         9.3188      +0.05%         -0.48%      +9.3771     +9.3004
 Euro/Sweden      EURSEK=     10.4756        10.4699     +0.05%         +0.06%      +10.5007    +10.4467
 
 (Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Elizabeth Howcroft in London)
  
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