(Adds Treasury report on Swiss franc, U.S. data, updates...

(Adds Treasury report on Swiss franc, U.S. data, updates prices; previous LONDON)

• Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E

Strong euro zone survey figures and hopes of progress on Brexit negotiations pushed the euro above $1.22 against the U.S. dollar on Wednesday for the first time since April 2018.

The Swiss franc, meanwhile, gained briefly after the U.S. Treasury labelled Switzerland a currency manipulator.

The euro has risen nearly 13% since the European Union announced a recovery fund in May. Stronger economic activity data in recent months have also boosted bets that Europe is likely to outperform the United States in the coming months.

Those expectations got a further boost with manufacturing survey data from Germany and France indicating that Europe's biggest economies may be recovering quickly. and

Against the U.S. dollar, the euro EUR=EBS rose 0.31% to $1.2186 after earlier reaching as high as $1.2211.

"European PMIs, Brexit and a likely dovish Fed are boosting risk appetite in the currency markets," said Kenneth Broux, a strategist at Societe Generale in London.

Ursula von der Leyen, the president of the European Commission, said she could not say whether the EU and Britain would reach a trade agreement, but progress had been made and the next few days would be critical.

Investors are also keeping an eye on the outcome of a two-day Federal Reserve policy meeting on Wednesday. Policymakers are expected to keep the U.S. overnight interest rate near zero and signal it will stay there for years to come, a decision that analysts say will further boost risk sentiment.

"There's a feel-good momentum in the market," said Bart Wakabayashi, Tokyo branch manager of State Street Bank in Tokyo.

The dollar index, which measures the U.S. currency against a basket of currencies, was last at 90.26 =USD , a level not seen since April 2018.

The index slightly pared losses after data showed that U.S. retail sales fell for a second straight month in November.

The Swiss franc briefly gained against the dollar after the U.S. Treasury labelled Switzerland and Vietnam as currency manipulators. It was last at 0.8846, with the dollar down 0.9% against the currency on the day.

The Treasury said that through June 2020 both Switzerland and Vietnam had intervened in currency markets to prevent effective balance of payments adjustments.

It is not surprising that the Trump administration might make a case about currency manipulation, given recent "runaway appreciation" of the Swissy, which is near six-year highs, said Joe Manimbo, senior market analyst at Western Union Business Solutions.

Meanwhile Bitcoin BTC=BTSP smashed through $20,000 for the first time on Wednesday, its highest ever. Bitcoin has gained more than 170% this year, buoyed by demand from larger investors attracted to its potential for quick gains, purported inflation-resistant qualities, and expectations it will become a mainstream payment method.

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	Currency bid prices at 8:48AM (1348 GMT) 

 Description	  RIC		 Last		   U.S. Close  Pct Change	 YTD Pct	 High Bid	Low Bid 
											  Previous				   Change				  
											  Session											
 Dollar index	  =USD	   90.2600		90.4790	 -0.23%		 +0.00%	  +90.5440	+90.1260 
 Euro/Dollar	   EUR=EBS	$1.2186		$1.2151	 +0.31%		 +8.72%	  +$1.2212	+$1.2145 
 Dollar/Yen		JPY=D3	 103.4400	   103.6550	-0.23%		 -4.79%	  +103.7150   +103.2650 
 Euro/Yen		  EURJPY=	126.06		 125.95	  +0.09%		 +3.37%	  +126.1800   +125.7200 
 Dollar/Swiss	  CHF=EBS	0.8846		 0.8855	  -0.09%		 -8.57%	  +0.8861	 +0.8826 
 Sterling/Dollar   GBP=D3	 $1.3527		$1.3470	 +0.45%		 +2.01%	  +$1.3553	+$1.3436 
 Dollar/Canadian   CAD=D3	 1.2751		 1.2698	  +0.43%		 -1.84%	  +1.2762	 +1.2697 
 Aussie/Dollar	 AUD=D3	 $0.7561		$0.7556	 +0.10%		 +7.79%	  +$0.7578	+$0.7546 
 Euro/Swiss		EURCHF=	1.0780		 1.0759	  +0.20%		 -0.66%	  +1.0790	 +1.0762 
 Euro/Sterling	 EURGBP=	0.9007		 0.9022	  -0.17%		 +6.54%	  +0.9054	 +0.8994 
 NZ				NZD=D3	 $0.7091		$0.7091	 +0.01%		 +5.39%	  +$0.7120	+$0.7085 
 Dollar/Dollar																				   

 Dollar/Norway	 NOK=D3	 8.6920		 8.7145	  -0.24%		 -0.89%	  +8.7325	 +8.6540 
 Euro/Norway	   EURNOK=	10.5940		10.5884	 +0.05%		 +7.69%	  +10.6146	+10.5627 
 Dollar/Sweden	 SEK=	   8.3597		 8.3682	  +0.04%		 -10.57%	 +8.3905	 +8.3289 
 Euro/Sweden	   EURSEK=	10.1890		10.1848	 +0.04%		 -2.68%	  +10.2010	+10.1680