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FOREX-U.S. dollar reaches six-week high on weaker euro, Swiss franc and yen

    * Graphic: World FX rates tmsnrt.rs/2RBWI5E

    By David Henry
    NEW YORK, Feb 1 (Reuters) - The U.S. dollar reached a six-week high on
Monday on weakness in the euro, Swiss franc and Japanese yen amid views that the
United States has an advantage in growing its economy and vaccinating its
population against COVID-19.
    The dollar index was up 0.37% to 90.955 in late afternoon trading in
New York, just off of levels last seen on Dec. 21.
    The Japanese yen weakened, hovering around 105 to the U.S. dollar,
a level not seen since mid-November.
    The euro was off 0.57% to $1.2069. Against the Swiss franc
 the dollar was up 0.66% to 0.8967 to the dollar, its weakest level in
two months.
    The moves came on evidence pointing toward a stronger recovery from the
coronavirus pandemic for the United States than for other countries.
    The euro weakened after Germany reported that retail sales plunged by an
unexpected 9.6% in December after tighter lockdowns last year to curb the spread
of COVID-19 choked consumer spending in Europe's largest economy.
    The dollar may be more resilient in the near-term because "both growth and
vaccination favour the U.S.," said Kamal Sharma, director of G10 FX strategy at
BofA Merrill Lynch Global Research.
    The dollar's gains on Monday came as crude oil and silver, both
dollar-denominated commodities, rose 2% and 7%, respectively.

    Oil was buoyed by falling U.S. crude inventories and rising fuel demand as
one of the worst snowstorms in years hit the U.S. Northeast.
    Silver prices popped on speculation that retail traders were encouraging one
another to buy the metal after their orders last week drove up shares of video
game retailer GameStock Corp.        
    U.S.-based strategists at Wells Fargo Securities wrote, "We think USD
strength still has room to run." That's especially true against more volatile
securities, they added.           
    Mexico's peso also benefited from the rise in oil and silver, gaining
more than 1%. Besides being an oil producer, Mexico was the world's largest
silver producer in 2019, according to data from Statista.

========================================================
    Currency bid prices at 3:08PM (2008 GMT)
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct     High Bid    Low Bid
                                              Previous                   Change                 
                                              Session                                           
 Dollar index                 90.9550        90.6280     +0.37%         +1.15%      +91.0150    +90.5010
 Euro/Dollar                  $1.2069        $1.2139     -0.57%         -1.22%      +$1.2145    +$1.2061
 Dollar/Yen                   104.9250       104.7250    +0.26%         +1.66%      +105.0300   +104.6550
 Euro/Yen                     126.62         127.07      -0.35%         -0.24%      +127.1200   +126.6100
 Dollar/Swiss                 0.8967         0.8909      +0.66%         +1.36%      +0.8969     +0.8908
 Sterling/Dollar              $1.3669        $1.3693     -0.17%         +0.06%      +$1.3757    +$1.3656
 Dollar/Canadian              1.2839         1.2775      +0.51%         +0.83%      +1.2843     +1.2763
 Aussie/Dollar                $0.7638        $0.7642     -0.07%         -0.73%      +$0.7662    +$0.7606
 Euro/Swiss                   1.0822         1.0808      +0.13%         +0.14%      +1.0827     +1.0803
 Euro/Sterling                0.8827         0.8852      -0.28%         -1.22%      +0.8856     +0.8805
 NZ                           $0.7167        $0.7184     -0.24%         -0.20%      +$0.7202    +$0.7151
 Dollar/Dollar                                                                                  
 Dollar/Norway                8.5810         8.5650      +0.20%         -0.06%      +8.6195     +8.5590
 Euro/Norway                  10.3578        10.4099     -0.50%         -1.04%      +10.4330    +10.3520
 Dollar/Sweden                8.4185         8.3589      +0.15%         +2.71%      +8.4283     +8.3263
 Euro/Sweden                  10.1605        10.1455     +0.15%         +0.83%      +10.1885    +10.1360
 
    
 (Reporting by David Henry and Ritvik Carvalho;
Editing by Bernadette Baum and Paul Simao)
  
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