* Graphics: World exchange rates in 2020 tmsnrt.rs/2RBWI5E
* Dollar starts the week on the forefoot
* Markets look for recovery from global pandemic
* Pound eyes gradual relief or coronavirus lockdown
By Stanley White
TOKYO, May 11 (Reuters) – The dollar rose against the yen Monday as US and other countries’ moves to reopen their economies raised hopes of a faster global recovery following a deep recession triggered by the coronavirus health crisis.
Sterling was slightly changed against the dollar and the euro after British Prime Minister Boris Johnson outlined plans to slowly ease restrictions on the shutdown of coronavirus.
Data on Friday showed that the United States threw 20.5 million jobs in April, which is the steep dip in payrolls since the Great Depression, but traders are starting to look past such bleak economic numbers as they aim for future growth.
The bad news about the U.S. the labor market was largely as expected, and people now assume that economic activity will restart sooner rather than later in the United States and Europe, “said Tohru Sasaki, head of Japan’s market research at J.P. Morgan Securities in Tokyo.
“We don’t have to be so bearish on the dollar.”
While the dollar is often traded as an active port given its reserve currency status, it has recently developed some positive correlation with Wall Street as investors focus on returns.
On Friday, the Wall Street indices threatened and defied the gloom of one of the worst U.S. job reports for decades.
The dollar rose 0.28% to 106.95 yen on Monday and was stable at $ 1.0843 against the euro.
U.S.A. currency changed hands to 0.9710 Swiss francs.
The Australian dollar, often traded as a proxy for risk due to its close ties to China’s economy and global commodities, recovered from an early decline, rising to $ 0.6546.
Across the Tasman Sea, the New Zealand dollar against its US counterpart rose to $ 0.6137.
The view of the kiwi is likely to improve after Prime Minister Jacinda Ardern said she will ease more coronavirus restrictions Thursday.
California, Michigan and Ohio, three important states for the U.S. manufacturing, taking steps to allow factories and some companies to resume work in a boost to sentiment.
Currency futures suggest that the greenback may continue to rise.
Speculators trimmed net short positions in U.S. to $ 9.148 billion in the week ending May 5, from $ 10.23 billion the previous week, according to estimates by Reuters and U.S. Data from the Commodity Futures Trading Commission released.
The pound was slightly changed to $ 1.2419 on Monday. Against the euro, the sterling hero is constant at 87.32 pence.
Johnson announced in a televised address on Sunday a limited easing of coronavirus restrictions that has shaken much of the economy for weeks, including encouraging some people to return to work.
The government wants the rest of the UK to take the same approach, but there were immediate divisions, with leaders of Wales, Scotland and Northern Ireland saying they adhered to the current “stay-at-home message”.
Johnson’s government has criticized its handling of the pandemic. At nearly 32,000, Britain’s death toll is the second highest in the world behind the United States.
Some traders say that uncertainty about the virus still poses risks to the financial markets.
U.S. Vice President Mike Pence is not quarantined and plans to be in the White House Monday, a spokesman said Sunday, despite media reports that he was self-insulating after an employee tested positive for the new coronavirus.
Three senior officials guiding the U.S. responses to the pandemic have chosen to self-quarantine.
Wuhan, the epicenter of the new coronavirus outbreak in China, reported on Monday its first infection cluster since the scrapping of the central Chinese city was abolished a month ago.
Officials in China have also reported a new infection cluster in the northeastern province of Jilin.
In the onshore market, the yuan traded at. 7.0830, supported by the Chinese central bank’s promise to get more stimulus to support the slower economy.
The new coronavirus first appeared in China late last year and then spread across the globe. (Reporting by Stanley White Editing by Shri Navaratnam, Sam Holmes and Kim Coghill)