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FOREX-Dollar rises from lows; oil drop hits crude-linked currencies

 (Revises throughout, updates prices, adds action in Canadian dollar, emerging markets)
    * Dollar rises after dipping to lowest since March 3
    * Euro gives up some gains from vaccination news
    * British pound retreats from testing $1.40
    * Oil drop on India coronavirus surge hits Mexico's peso   
    * Graphic: World FX rates tmsnrt.rs/2RBWI5E

    By David Henry
    NEW YORK, April 20 (Reuters) - The dollar rose on Tuesday as interest rates in the United States moved
in a tight range and a drop in oil prices hit crude-linked currencies.
    After touching its lowest level in nearly seven weeks, the dollar index against major currencies
rose 0.2% to 91.204 in the afternoon in New York.
    The euro was flat at $1.2033 after rising nearly 0.4% on the outlook for increasing
vaccinations. The British pound fell 0.4% to $1.3937 after it backed off from touching $1.40 and
gaining 1% on Monday.
    The dollar has fallen in April as U.S. bond yields retreated from the 14-month highs of 1.776% reached
last month. The currency and yield declines have come as evidence mounted that the Federal Reserve would be
slower about tightening monetary policy than it had appeared to the market, analysts said.
    The 10-year Treasury yield slipped to 1.57% after trading in a narrow range around 1.60%.

    The currency and interest rate markets could be relatively calm for another few weeks as the Fed and the
European Central Bank each take their time about adjusting their rate policies, said Mazen Issa, senior
currency strategist at TD Securities.
    "There really isn't a strong catalyst in either direction this month to really break us out of ranges,"
Issa said. 
    Some encouragement for the euro came from the announcement that the European Union has secured an
additional 100 million doses of the COVID-19 vaccine produced by BioNTech and Pfizer.

    The vaccination news suggests that the pace of Europe's recovery from the pandemic will begin to catch
up with the United States and its story of faster growth, Issa said.
    "The FX market is moving away from this idea of full-on U.S. exceptionalism to being in a little bit
more in limbo now," he said.
    Against the Japanese yen, the dollar edged up to 108.09 after having broken below 108 for the first time
since March 5.
    Oil-linked currencies took a hit when crude prices fell 1% on fears that surging coronavirus infections
in India will bring restrictions and reduce demand for oil.
    The Canadian dollar, which had been steady ahead of a Wednesday meeting of the Bank of Canada,
then weakened the most in nearly two months to 1.2620 against the dollar, or 79.24 U.S. cents.
The Norwegian crown retreated from its strongest levels against the dollar since 2018. 
    Mexico's peso also weakened with oil after hovering around three-month highs on the strength of
carry trades in high-yield emerging market currencies bolstered by recent low volatility.
    Bitcoin rose 1% to $56,211 on Tuesday afternoon.        
========================================================
    Currency bid prices at 3:17PM (1917 GMT)
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct       High Bid    Low Bid
                                              Previous                   Change                   
                                              Session                                             
 Dollar index                 91.2040        91.0490     +0.18%         1.359%        +91.2820    +90.8560
 Euro/Dollar                  $1.2033        $1.2036     -0.02%         -1.52%        +$1.2080    +$1.2023
 Dollar/Yen                   108.0900       108.1500    -0.06%         +4.61%        +108.5450   +107.9750
 Euro/Yen                     130.07         130.14      -0.05%         +2.48%        +130.9600   +130.0000
 Dollar/Swiss                 0.9161         0.9153      +0.09%         +3.55%        +0.9169     +0.9136
 Sterling/Dollar              $1.3937        $1.3989     -0.37%         +2.02%        +$1.4008    +$1.3926
 Dollar/Canadian              1.2609         1.2531      +0.64%         -0.97%        +1.2623     +1.2479
 Aussie/Dollar                $0.7721        $0.7755     -0.42%         +0.38%        +$0.7815    +$0.7709
 Euro/Swiss                   1.1023         1.1016      +0.06%         +2.00%        +1.1047     +1.1010
 Euro/Sterling                0.8633         0.8605      +0.33%         -3.40%        +0.8643     +0.8603
 NZ                           $0.7171        $0.7180     -0.18%         -0.19%        +$0.7229    +$0.7165
 Dollar/Dollar                                                                                    
 Dollar/Norway                8.3550         8.2965      +0.74%         -2.67%        +8.3650     +8.2520
 Euro/Norway                  10.0550        9.9866      +0.68%         -3.94%        +10.0615    +9.9532
 Dollar/Sweden                8.4358         8.3980      +0.41%         +2.92%        +8.4437     +8.3615
 Euro/Sweden                  10.1515        10.1099     +0.41%         +0.75%        +10.1583    +10.0990
 
    
 (Reporting by David Henry in New York. Additional reporting by Elizabeth Howcroft, Hideyuki Sano and Kevin
Buckland; Editing by Larry King, Steve Orlofsky, Alex Richardson and Dan Grebler)
  
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