* China import data supports risk appetite
* Dollar rises versus yen, though still near 15-year low
* Commodity currencies gain on recovery optimism
(Adds details, updates prices, changes byline)
By Wanfeng Zhou
NEW YORK, Sept 10 (Reuters) - The U.S. dollar rose against
the yen and commodity bloc currencies gained on Friday as
strong Chinese trade data bolstered optimism about the global
economy.
China's imports leaped in August, boding well for a
strengthening of domestic demand in an economy that has become
a major driver of global growth. For more, see []
That helped lift stock and commodity prices and diminish
safe-haven demand for the yen and Swiss franc. The Australian
dollar gained on expectations solid Chinese growth would boost
appetite for the country's exports.
"Risk aversion has subsided a little bit as a result of the
positive import data out of China overnight. That has revived a
little bit of hope that China can in fact contribute more
sustainably to a global recovery," said Omer Esiner, chief
market analyst at Commonwealth Foreign Exchange in Washington.
In afternoon trading, the dollar rose 0.4 percent to 84.16
yen <JPY=>, after rising to a session high of 84.38 yen,
according to Reuters data.
A jump in U.S. bond yields to their highest in about a
month also helped boost dollar/yen.
Despite Friday's gains, the dollar remained near recent
15-year lows touched earlier this week, keeping prospects for
yen intervention alive.
The dollar rose 0.4 percent to 1.0221 Swiss francs <CHF=>,
while the euro was up 0.6 percent at 1.2955 francs <EURCHF=>,
having earlier hitting the day's high of 1.3074 francs,
according to Reuters data.
Resistance on euro/Swiss franc is seen around 1.3085.
Traders cited Swiss banks selling the franc against the euro,
dollar and other currencies.
The euro rose 0.2 percent to $1.2730 <EUR=> near the day's
high of $1.2747. It gained 0.6 percent to 107.00 yen
<EURJPY=>.
Strategists remained cautious about the euro, given the
euro zone periphery's debt worries and renewed concern this
week about the region's banking sector.
European Central Bank Executive Board member Lorenzo Bini
Smaghi warned on Friday of a looming debt crunch in several
developed countries that could cripple economies if left
unchecked. []
YEN WATCH
The dollar traded in a tight range between 83.76 yen and
84.38 yen <JPY=>. Stop loss orders were reported at 83.70 and
83.75 yen.
The dollar hit a 15-year low of 83.34 yen on electronic
trading platform EBS <JPY=EBS> this week, intensifying
speculation Japan might step in to curb the yen's strength if
dollar/yen accelerates toward 80 yen.
Japanese Prime Minister Naoto Kan on Friday reiterated that
Japanese authorities would take decisive steps on the yen if
needed. Joint intervention in currency markets, however, would
be difficult, he said. []
Investor attention is turning to a ruling party leadership
race between Kan and powerbroker Ichiro Ozawa.
Commodity bloc currencies rose against the U.S. currency.
The Australian dollar <AUD=> was up 0.3 percent to US$0.9254
and the New Zealand dollar <NZD=> rose 0.5 percent to
US$0.7279.
The Canadian dollar earlier <CAD=D4> jumped to a three-week
high against the U.S. dollar after data showed Canada's economy
added more jobs than expected in August. But it turned lower as
details of the report showed the pace of employment creation
slowed from the first half of the year. []. The
greenback was last up 0.2 percent at C$1.0359.
(Additional reporting by Nick Olivari; Editing by Andrew Hay)
