Dollar cedes some ground, bitcoin hunkers down

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By Rae Wee and Alun John SINGAPORE/LONDON (Reuters) – The dollar retreated on Tuesday after rallying the previous day when investors rushed to the safe-haven currency on worries about China’s COVID flare-ups, while fears of fresh contagion from the collapse of crypto exchange FTX pressured bitcoin. The euro was up 0.3% at $1.0265 after an 0.8% loss on Monday, sterling rose 0.46% to $1.187, partially reversing its 0.6% fall, and the dollar was at 141.86 yen, down 0.6% after a 1.2% gain. Flows to the dollar on Monday came as Beijing warned that it was facing its most severe test of the COVID-19 …

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