FOREX-Dollar flat after more evidence of rising inflation

* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E

(Adds comments from Fed's Barkin, Waller, quote, updates
prices)
By Kate Duguid and Karen Brettell
NEW YORK, May 13 (Reuters) - The dollar held steady near
week highs on Thursday after the U.S. Labor Department reported
higher producer prices in April, further evidence that inflation
is rising in the United States.
The producer price index rose 0.6% in April after surging
1.0% in March. In the 12 months through April, the PPI shot up
6.2%. That was the biggest year-on-year rise since the series
was revamped in 2010 and followed a 4.2% jump in March.

Thursday's report follows data on Wednesday showing consumer
prices increased by the most in nearly 12 years in April.
"The hotter-than-expected April U.S. PPI report did not have
the impact Wednesday's huge CPI gains had on markets," said
Ronald Simpson, managing director, global currency analysis at
Action Economics in a report.
The dollar index was little changed on the day at
90.741.
The euro gained 0.05% to $1.2076. The greenback
fell 0.26% to 109.48 Japanese yen.
Federal Reserve Governor Christopher Waller on Thursday said
he expects inflation to exceed the Fed's 2% target for the next
two years, but said the Fed would not raise rates until it sees
inflation above target for a long time, or excessively high
inflation.
Getting people off the sidelines of the economy and into
jobs has become a critical issue in keeping the U.S. recovery on
track, Richmond Fed President Thomas Barkin said Thursday.
U.S. Federal Reserve Vice Chair Richard Clarida said on
Wednesday that weak job growth and strong inflation in April had
not changed the central bank's plan to maintain loose monetary
policy.
While the surge in inflation is large enough that a full
reversal in coming months does not seem likely, a single month
of data is unlikely to prompt an immediate shift in the Fed's
positioning, wrote Alan Ruskin, macro strategist at Deutsche
Bank.
The Australian dollar, seen as a proxy for risk appetite,
was up 0.02% at $0.7726 versus the U.S. dollar, after its
biggest daily drop since March on Wednesday.
Bitcoin was lower a day after plunging 17% when
Tesla boss Elon Musk said his company would stop
accepting the digital tokens as payment for its cars.

It was last down 1.47% at $48,632.
Bitcoin is still higher than where it was just before Tesla
said on Feb. 8 that it had invested around $1.5 billion in
bitcoin and would accept it for payment in the near future.


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Currency bid prices at 3:10PM (1910 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Dollar index 90.7410 90.7420 +0.01% 0.845% +90.9090 +90.5870
Euro/Dollar $1.2076 $1.2071 +0.05% -1.15% +$1.2106 +$1.2052
Dollar/Yen 109.4800 109.7050 -0.26% +5.94% +109.7750 +109.4150
Euro/Yen 132.21 132.40 -0.14% +4.17% +132.7300 +132.0500
Dollar/Swiss 0.9062 0.9089 -0.30% +2.43% +0.9092 +0.9053
Sterling/Dollar $1.4042 $1.4055 -0.06% +2.81% +$1.4077 +$1.4008
Dollar/Canadian 1.2163 1.2135 +0.23% -4.48% +1.2202 +1.2104
Aussie/Dollar $0.7726 $0.7726 +0.02% +0.45% +$0.7746 +$0.7688
Euro/Swiss 1.0941 1.0970 -0.26% +1.24% +1.0985 +1.0938
Euro/Sterling 0.8598 0.8588 +0.12% -3.79% +0.8617 +0.8585
NZ $0.7183 $0.7161 +0.33% +0.04% +$0.7194 +$0.7135
Dollar/Dollar
Dollar/Norway 8.3615 8.3430 +0.34% -2.52% +8.4195 +8.3335
Euro/Norway 10.1010 10.0668 +0.34% -3.51% +10.1556 +10.0675
Dollar/Sweden 8.4066 8.4239 -0.20% +2.56% +8.4549 +8.3922
Euro/Sweden 10.1519 10.1723 -0.20% +0.74% +10.1920 +10.1510



(Reporting by Kate Duguid; Additional reporting by Elizabeth
Howcroft in London and Karen Brettell in New York; Editing by
Andrea Ricci and Nick Zieminski)