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FOREX-Dollar nurses losses on vaccine doubts, kiwi shines post-RBNZ

    * Graphic: World FX rates in 2020 tmsnrt.rs/2RBWI5E
    * Dollar stalls as traders eye drawn-out coronavirus battle
    * New Zealand dollar hits more than one-year high after RBNZ
    * Rising U.S. coronavirus cases also a concern

    By Stanley White
    TOKYO, Nov 11 (Reuters) - The dollar nursed losses on
Wednesday as optimism about a potential coronavirus vaccine was
offset by worries about how the drug will be delivered and by a
surge of new infections in the United States.
    The New Zealand dollar recovered from an early dip to hit
its strongest level in more than a year as traders scaled back
bets that the central bank would move to negative interest
rates.
    Initial optimism about coronavirus vaccine testing pushed
the dollar up against the safe-harbour yen and the Swiss franc,
but this momentum is starting to fade because there are still
several obstacles to clear before a vaccine can be distributed.
    "The dollar recovery is on hold for now because, when you
look at the details, there are still a lot of hurdles to clear
before any vaccine is rolled out," said Junichi Ishikawa, senior
foreign exchange strategist at IG Securities in Tokyo.
    "However, the dollar is supported by rising Treasury yields,
which should help the dollar make another push higher before
year's end."
    The dollar held steady at 105.28 yen, trading near
a three-week high.
    Against the euro, the dollar was little changed at
$1.1822.
    The British pound traded at $1.3258, close to a
two-month high due to growing optimism that Britain and the
European Union will agree a long-sought-after trade deal.
    Sterling, however, surrendered some of its overnight gains
against the euro.
    Sentiment for the dollar got a boost after Pfizer Inc
 and BioNTech said on Monday their
experimental coronavirus vaccine was 90% effective.
    However, the reaction across financial markets has become
more tempered because there are several logistical hurdles to
making the drug available, including that it has to be shipped
at extremely cold temperatures.
    Several U.S. states on Tuesday imposed restrictions to curb
the spread of the coronavirus as hospitalisations soared,
highlighting the difficulty in containing the virus as winter in
the Northern Hemisphere approaches.
    The dollar index against a basket of six major
currencies steadied at 92.741.
    The onshore yuan capitalised on the dollar's
weakness and rose to 6.6001.
    Other Asian currencies, such as the Korean won and
the Singapore dollar, also gained against the greenback. 
    The New Zealand dollar hit $0.6904, its strongest
since March 2019.
    The Reserve Bank of New Zealand (RBNZ) kept interest rates
on hold at 0.25% and introduced a new monetary policy tool to
encourage more loans by reducing borrowing costs for banks,
which matched market expectations.
    RBNZ Governor Adrian Orr also said domestic economic
activity since August has been more resilient than previously
assumed, which many traders took as a sign that the chance of
negative interest rates had receded.
    Across the Tasman Sea, the Australian dollar also
rose against its U.S. counterpart.
    
    ========================================================
    Currency bid prices at 3:16PM (0616 GMT)
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct     High Bid    Low Bid
                                              Previous                   Change                 
                                              Session                                           
 Euro/Dollar                  $1.1822        $1.1812     +0.09%         +5.45%      +1.1833     +1.1812
 Dollar/Yen                   105.2800       105.2650    +0.00%         -3.08%      +105.2850   +105.0200
 Euro/Yen                     124.47         124.36      +0.09%         +2.07%      +124.4800   +124.1800
 Dollar/Swiss                 0.9149         0.9151      -0.01%         -5.44%      +0.9153     +0.9139
 Sterling/Dollar              1.3258         1.3276      -0.13%         -0.03%      +1.3279     +1.3254
 Dollar/Canadian              1.3029         1.3036      -0.05%         +0.29%      +1.3042     +1.3010
 Aussie/Dollar                0.7308         0.7287      +0.29%         +4.15%      +0.7318     +0.7277
 NZ                           0.6891         0.6832      +0.89%         +2.44%      +0.6903     +0.6809
 Dollar/Dollar All spots
Tokyo spots
Europe spots 
Volatilities 
Tokyo Forex market info from BOJ

 (Reporting by Stanley White; Editing by Kim Coghill and Stephen
Coates)
  
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