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FOREX-Dollar pares gains after hitting four-month high as risk appetite wanes

    * Dollar largely flat after reaching four-month high
    * U.S. Treasury yields dip ahead of auction
    * Graphic: World FX rates tmsnrt.rs/2RBWI5E

 (Adds new analyst quote, updates throughout)
    By Jessica DiNapoli and Elizabeth Howcroft
    New York, March 25 (Reuters) - The U.S. dollar reached a
fresh four-month high before slashing its gains on Thursday, as
yields on U.S. Treasuries dipped and investors' appetite for
risk shrunk. 
    The dollar index was mostly unchanged at 92.6410 in
mid-morning trading. 
    Yields on Treasuries crept down and stocks fell, with
10-year notes yielding 1.598 ahead of an auction on
shorter-dated bonds on Thursday. Investors were
shrugging off positive U.S. economic data showing that
fewer-than-expected Americans filed new claims for unemployment
benefits last week. 
    "There's some nervousness around positioning, some paring
down of positions within the foreign exchange market," said
Mazen Issa, senior currency analyst at TD Securities, adding
that some technical developments have also kept the dollar on a
"bit of a roll." 
    U.S. stocks opened lower in a session marked by choppy
trading.
    Concerns about extended lockdowns in Europe also weighed on
markets. German Chancellor Angela Merkel's decision to ditch
plans for a lockdown over Easter did little to improve
sentiment.
    The euro was down 0.12% against the dollar, at $1.1800
, with analysts forecasting it could embrace the $1.16
range, as Europe's economic recovery from the pandemic lags.
    The Australian and New Zealand dollars, which dropped in the
previous two sessions, edged back up slightly against the U.S.
dollar, but both were only up by around 0.1%
on the day overall.
    On Wednesday, U.S. Treasury Secretary Janet Yellen and
Federal Reserve Chair Jerome Powell expressed their confidence
in the U.S. recovery during a second day of testimony to
Congress.
    European leaders meet on Thursday and will discuss vaccine
supplies.
    The EU on Wednesday tightened its oversight of coronavirus
vaccine exports, giving it greater scope to block shipments to
countries with higher inoculation rates such as Britain.

    Bitcoin extended recent losses, down 1.43% at $51,535.69
.
    The cryptocurrency briefly topped $57,000 in the previous
session after Tesla Inc boss Elon Musk said customers
can now buy the company's electric cars with the digital token.

    Currency bid prices at 10:27AM (1427 GMT)
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct       High Bid    Low Bid
                                              Previous                   Change                   
                                              Session                                             
 Dollar index                 92.6630        92.5970     +0.08%         2.981%        +92.7540    +92.5120
 Euro/Dollar                  $1.1801        $1.1815     -0.11%         -3.41%        +$1.1828    +$1.1791
 Dollar/Yen                   109.0900       108.6800    +0.40%         +5.64%        +109.1600   +108.7500
 Euro/Yen                     128.74         128.42      +0.25%         +1.43%        +128.9400   +128.4300
 Dollar/Swiss                 0.9373         0.9358      +0.18%         +5.96%        +0.9375     +0.9351
 Sterling/Dollar              $1.3731        $1.3680     +0.38%         +0.51%        +$1.3741    +$1.3671
 Dollar/Canadian              1.2595         1.2582      +0.10%         -1.09%        +1.2607     +1.2547
 Aussie/Dollar                $0.7598        $0.7581     +0.28%         -1.18%        +$0.7614    +$0.7579
 Euro/Swiss                   1.1060         1.1052      +0.07%         +2.34%        +1.1070     +1.1043
 Euro/Sterling                0.8593         0.8629      -0.42%         -3.86%        +0.8641     +0.8592
 NZ                           $0.6968        $0.6961     +0.10%         -2.97%        +$0.6986    +$0.6957
 Dollar/Dollar                                                                                    
 Dollar/Norway                8.6260         8.5685      +0.61%         +0.39%        +8.6275     +8.5900
 Euro/Norway                  10.1803        10.1608     +0.19%         -2.74%        +10.1818    +10.1360
 Dollar/Sweden                8.6360         8.6046      +0.18%         +5.36%        +8.6448     +8.5985
 Euro/Sweden                  10.1915        10.1733     +0.18%         +1.14%        +10.1961    +10.1652
 

    
 (Reporting by Elizabeth Howcroft Editing by Jane Merriman and
Paul Simao)
  
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