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FOREX-Dollar hits 1-year high versus yen as inflation worries lift yields

    * Dollar edges toward 110 yen in best month since 2016
    * Euro languishes below $1.18 as pandemic fight stutters
    * Bitcoin buoyed above $58,000 as Visa backs
cryptocurrencies
    * Graphic: World FX rates tmsnrt.rs/2RBWI5E

    By Kevin Buckland
    TOKYO, March 30 (Reuters) - The dollar climbed to a one-year
high against the yen on Tuesday amid a spike in Treasury
yields, as accelerating vaccinations and massive stimulus in the
U.S. stoked inflation concerns.
    The safe-haven greenback also found support as investors
fretted about the potential fallout from the collapse of a hedge
fund, identified as Archegos Capital, although those jitters had
eased as the Asian trading day got underway.
    Bitcoin pushed back above $58,000 overnight after
Visa Inc said it would allow the use of cryptocurrencies
to settle transactions on its payment network.
    The dollar rose as high as 109.89 yen in Asia on Tuesday, a
level not seen since March of last year. It's on track for the
best month since late 2016, with the end of Japan's fiscal year
this month driving up dollar demand as companies seek to square
their books.
     The euro languished near the 4-1/2-month low of
$1.1763 reached on Monday, on course to fall by the most this
month since mid-2019.
    Tougher coronavirus curbs in France and Germany have dimmed
the short-term outlook for the European economy, while a
widening spread between U.S. and German bond yields are adding
pressure on the single currency.
    Higher yields make a currency more attractive as an
investment.
    The dollar index hovered near a 4-1/2-month high of
92.964 reached on Monday.
    The monthly U.S. non-farm payrolls report will be closely
watched at the end of this week, with Federal Reserve
policymakers so far citing slack in the labour market for their
continued lower-for-longer stance on interest rates.
    "In a week when the market is feeling so optimistic about
the forthcoming payrolls release, it seems very likely that the
greenback will find strong support," with the dollar index
looking to test 93, Rabobank currency strategist Jane Foley
wrote in a report.
    However, "the market is in danger of pricing in too much
inflation risk," meaning "we see scope for the USD to soften in
the months ahead," the report said.
    In cryptocurrencies, bitcoin continued its recovery from a
slide to as low as $50,360 last week, as Visa's decision became
the latest sign of growing acceptance of digital currencies on
both Wall Street and Main Street.
    The token last traded around $57,620. It set a record high
at $61,781.83 earlier this month.

========================================================
    Currency bid prices at 0047 GMT
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct     High Bid    Low Bid
                                              Previous                   Change                 
                                              Session                                           
 Euro/Dollar                  $1.1768        $1.1767     +0.01%         -3.69%      +1.1778     +1.1764
 Dollar/Yen                   109.8120       109.8300    -0.01%         +6.32%      +109.8700   +109.8200
 Euro/Yen                     129.23         129.20      +0.02%         +1.82%      +129.2900   +129.1800
 Dollar/Swiss                 0.9391         0.9394      -0.03%         +6.15%      +0.9394     +0.9389
 Sterling/Dollar              1.3766         1.3760      +0.08%         +0.80%      +1.3774     +1.3764
 Dollar/Canadian              1.2591         1.2590      +0.00%         -1.13%      +1.2595     +1.2584
 Aussie/Dollar                0.7631         0.7632      +0.00%         -0.79%      +0.7640     +0.7632
 NZ                           0.7002         0.7001      +0.09%         -2.42%      +0.7011     +0.6997
 Dollar/Dollar All spots
Tokyo spots
Europe spots 
Volatilities 
Tokyo Forex market info from BOJ 



    
 (Reporting by Kevin Buckland; Editing by Sam Holmes)
  
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