* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E * Aussie and kiwi rise early against dollar * British pound up as exit from lockdown looms on horizon * Rising Treasury yields to slow dollar's decline By Stanley White TOKYO, Feb 22 (Reuters) - The U.S. dollar fell to athree-year low against its Australian counterpart and teeterednear three-year low against the British pound as progress incurbing coronavirus infections boosted sentiment for riskierassets. The greenback also slipped toward a three-year low againstthe New Zealand dollar as traders sought currencies with closeties to the global commodities trade due to an improvingeconomic outlook. The U.S. currency, which is often considered a safe assetduring times of uncertainty, is likely to fall further as moreinvestors focus on economic recovery once the worst of thecoronavirus pandemic passes. "Commodity currencies and the pound are particularly strongagainst the dollar, and this trend looks set to continue," saidYukio Ishizuki, foreign exchange strategist at Daiwa Securities. "Britain's vaccination programme is making a lot ofprogress. Economic activity is gradually returning to normal inmany places, which puts some pressure on the dollar." The Australian dollar hit $0.7892, its highestsince March 2018 while the New Zealand currency rose to$0.7315, its strongest since April 2018. Vaccine rollouts will ease risks to Australia's economy overthe year, ratings agency Fitch said on Monday when it maintainedthe country's top AAA credit rating, albeit with a negativeoutlook. The euro last traded at $1.2124 The British pound bought $1.4030, close to athree-year high. Against the yen, the dollar held steady at 105.45 Australia on Monday began its mass COVID-19 vaccineprogramme as the country looked set to report no local cases forthe third straight day, which gave the Aussie a boost. Sterling is also in focus because British Prime MinisterBoris Johnson will plot a path out of coronavirus lockdownslater on Monday, aided by one of the fastest vaccine rollouts inthe world. Dollar net short positioning fell last week to $29.09billion, which is the lowest level since mid-December, accordingto calculations by Reuters and Commodity Futures TradingCommission data. U.S. dollar net shorts have fallen for four straight weeks,which shows that there are still some investors who areoptimistic about the greenback. Long-term Treasury yields have been rising recently, and theUnited States has also improved its response to the coronavirus,which will lend the dollar some mild support, Daiwa's Ishizukisaid. In the cryptocurrency market, bitcoin easedslightly to $57,090, but was still near a record high as thedigital asset gains more mainstream acceptance. Ether, a rival cryptocurrency, fell to $1,918. ======================================================== Currency bid prices at 0014 GMT Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar $1.2124 $1.2118 +0.04% -0.78% +1.2129 +1.2110 Dollar/Yen 105.4550 105.4900 +0.02% +2.15% +105.6150 +105.5050 Euro/Yen 127.86 127.75 +0.09% +0.74% +127.9800 +127.7000 Dollar/Swiss 0.8966 0.8965 +0.04% +1.37% +0.8974 +0.8968 Sterling/Dollar 1.4030 1.4001 +0.18% +2.66% +1.4030 +1.4013 Dollar/Canadian 1.2603 1.2619 -0.12% -1.02% +1.2617 +1.2598 Aussie/Dollar 0.7884 0.7868 +0.20% +2.49% +0.7891 +0.7864 NZ 0.7305 0.7297 +0.10% +1.71% +0.7316 +0.7292 Dollar/Dollar All spotsTokyo spotsEurope spots Volatilities Tokyo Forex market info from BOJ (Reporting by Stanley White; Editing by Sam Holmes)