FOREX-U.S. dollar rallies as risk appetite ebbs; bitcoin pulls back

    * Dollar gains after days of losses this week
    * Bitcoin falls, but set for 20% weekly rise
    * Traders reassess pace of U.S. recovery on weak jobs data
    * Euro, commodity currencies tick lower
    * Graphic: World FX rates

 (Recasts, adds new comment, updates prices, changes byline,
dateline; previous LONDON)
    By Gertrude Chavez-Dreyfuss
    NEW YORK, Feb 12 (Reuters) - The dollar gained on Friday
after several days of losses this week, as risk appetite soured
with stocks and some commodity prices lower, while investors
also consolidated gains made on other currencies ahead of a long
weekend in U.S. markets.
    Financial markets are closed on Monday for President's Day.
    "We're seeing the consolidation that we expected earlier in
the week," said Erik Bregar, head of FX strategy, at Exchange
Bank of Canada in Toronto. "Risk sentiment is still the
predominant driver of the dollar right now."
    Bitcoin, meanwhile, was down 2.2% on the day at
$46,909, after hitting a record high of $49,000. It was on track
for gains of roughly 20% in a milestone week marked by the
endorsement of major firms such as Elon Musk's Tesla. 
    The world's most popular cryptocurrency hit a record high
overnight after U.S. banking group BNY Mellon said it had
formed a unit to help clients hold, transfer and issue digital
    "There is clearly some nervousness around this level," OANDA
analyst Craig Erlam told his clients, citing fears that a
correction could hit soon after the $50,000 landmark is reached.
    In mid-morning trading, the dollar index rose 0.2% to
90.621 after subdued volumes in Asia because of the Lunar New
     It was, however, on track to fall 0.5% for the week - its
first losing week in three - in what ING analysts described as a
"consolidative mood" amid uncertainty about the pace of the U.S.
economic recovery.
    Weaker-than-expected weekly U.S. jobless claims data on
Thursday added to concerns the dollar's previous rally had
priced in too fast a rebound for the U.S. economy.
    The dollar was up 0.3% against the yen at 105.04. 
    There has been a divergence in views among traders this year
over how U.S. President Joe Biden's planned $1.9 trillion fiscal
stimulus package will affect the dollar.
    Some see it as bolstering the currency as it should speed a
U.S. recovery relative to other countries, while others reckon
it would feed a global reflation narrative that should lift
riskier assets at the dollar's expense.
    The euro fell 0.3% to $1.2091.
    The British pound was little changed at $1.3822 against the
dollar but was steady against the euro after data showed
Britain's economy suffered a record slump in 2020 but grew in
the final quarter.  
    The Australian, New Zealand, and Canadian
dollars all fell against the greenback as risk appetite
    Currency bid prices at 10:20 AM (1520 GMT)
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct       High Bid    Low Bid
                                              Previous                   Change                   
 Dollar index                 90.6230        90.4120     +0.25%         0.713%        +90.7410    +90.3960
 Euro/Dollar                  $1.2094        $1.2133     -0.32%         -1.01%        +$1.2135    +$1.2082
 Dollar/Yen                   105.0450       104.7300    +0.30%         +1.70%        +105.1750   +104.7850
 Euro/Yen                     127.04         127.05      -0.01%         +0.09%        +127.3200   +126.9900
 Dollar/Swiss                 0.8931         0.8898      +0.39%         +0.97%        +0.8940     +0.8901
 Sterling/Dollar              $1.3818        $1.3816     +0.02%         +1.15%        +$1.3828    +$1.3776
 Dollar/Canadian              1.2731         1.2703      +0.23%         -0.02%        +1.2762     +1.2695
 Aussie/Dollar                $0.7736        $0.7755     -0.24%         +0.57%        +$0.7756    +$0.7719
 Euro/Swiss                   1.0799         1.0794      +0.05%         -0.07%        +1.0808     +1.0788
 Euro/Sterling                0.8750         0.8778      -0.32%         -2.09%        +0.8792     +0.8745
 NZ                           $0.7194        $0.7227     -0.46%         +0.18%        +$0.7232    +$0.7178
 Dollar/Norway                8.4935         8.4790      +0.19%         -1.07%        +8.5140     +8.4770
 Euro/Norway                  10.2730        10.2840     -0.11%         -1.85%        +10.3140    +10.2720
 Dollar/Sweden                8.3325         8.3238      -0.08%         +1.67%        +8.3462     +8.3177
 Euro/Sweden                  10.0790        10.0871     -0.08%         +0.03%        +10.1137    +10.0740
 (Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by
Julien Ponthus in London)