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Euro hits five-month high after Ukraine agrees to

ceasefire

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Canadian dollar rebounds from losses after Trump slaps new

tariffs

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Dollar index on track for 7-day losing streak

(Updates to late-afternoon trading, adds analyst comments)

By Chibuike Oguh and Yadarisa Shabong

NEW YORK, March 11 (Reuters) -

The euro hit a five-month high on Tuesday after Ukraine

agreed to a 30-day ceasefire proposal, while the dollar rose to

a one-week high before weakening against the Canadian dollar

following U.S. President Donald Trump's additional tariffs on

Canada.

Trump doubled his planned tariff on all steel and aluminum

imports from Canada to 50% after Ontario province imposed a 25%

tariff on electricity sent to the U.S.

Ukraine

agreed to accept

an immediate 30-day ceasefire in the conflict with Russia

during talks with U.S. officials in Saudi Arabia. U.S. Secretary

of State Marco Rubio said he would now take the offer to the

Russians, and that the ball is in Moscow's court.

The European single currency had been trading at a

months-long high since last week on expectations of increased

defense spending in Germany, the continent's largest economy.

The U.S. dollar rose to C$1.4521 against the Canadian

dollar, its highest since March 4. It later lost ground and

traded down 0.28% to C$1.4396.

The euro rose as high as $1.0947, a level last

seen in October. It was last up 0.86% and has gained more than

5% this month. The euro jumped to its highest since

January, of 161.78 yen, following Ukraine's agreement to a

ceasefire. It was last up 1.29% at 161.57 yen.

Increased European defense spending and the prospect of

a ceasefire in Ukraine are positive for the euro, said Juan

Perez, director of trading at Monex USA. "Adding the ceasefire,

even if it's just for a month, and the idea that something

concrete can actually happen between Russia and Ukraine is an

excellent sign for the euro."

The U.S. dollar remains weaker against its major peers as

trade and growth concerns weigh on the greenback.

Wall Street's main indexes, the benchmark S&P 500,

Nasdaq and the Dow finished down on Tuesday.

Against the Swiss franc, the dollar strengthened 0.1%

to 0.882 but is down 2.42% for the month. Against the Japanese

yen, the dollar strengthened 0.31% to 147.72. The

greenback has lost 1.93% against the yen so far in March.

The dollar index, which measures the greenback against a

basket of currencies including the yen and euro, was on track

for its seventh straight loss. It fell 0.57% to 103.27.

"Everything that was vulnerable continues to look

vulnerable: German yields keep going up and U.S. equities

continue to look soft," said Steve Englander, global head of G10

FX Research and North American Macro Strategy at Standard

Chartered Bank's NY Branch.