* Euro edges lower vs dlr, holds within recent range
* More rumours of imminent Greek debt deal
* French, Spanish bond auctions due later in session
By Nia Williams
LONDON, Feb 2 (Reuters) - The euro dipped versus the dollar on Thursday, paring gains made after better manufacturing data eased worries about global growth, and looked set to stay subdued as investors awaited a debt swap deal between Greece and its private creditors.
Markets were also looking ahead to government bond auctions from Spain and France that were expected to see decent demand.
News that Greece's long-delayed deal with private sector creditors to cut its debt burden is nearly wrapped up provided some support to the single currency. But analysts said investors would be wary of pushing the euro too high following a week of rumours that a deal to avoid a messy Greek default was imminent.
The euro was down 0.2 percent on the day at $1.3133, retreating from a session high of $1.3197, with traders reporting selling by an Asian central bank.
It remained firmly within its range of the last week, of roughly between $1.3230 and $1.3020. Strategists said a breakthrough in Greek talks could push the euro out of the top of the range, at least initially.
"Any break out of this range will only happen by surprising U.S. data or by more than a rumour of success on the Greece deal," said Ulrich Leuchtmann, head of FX research at Commerzbank.
"The initial reaction (to a deal) will be very positive but afterwards we will have to look closely at the details. It's very tricky to set up such a deal."
Perceived riskier currencies were supported against the dollar after data on Wednesday showed U.S. factory activity expanded at its strongest pace in seven months in January. The manufacturing sectors in Germany and China also showed resilience to adverse effects from the euro zone crisis.
The Australian dollar hit a five-month high of 1.0758 to the dollar, helped by data showing Australia's trade surplus rebounded to the highest in three months.
Aside from the outcome of Greek talks, investors were focused on debt sales from France and Spain later in the session. Market players have attributed recent successful euro zone debt auctions to the European Central Bank's injection of nearly half a trillion euros of cheap funds.
Strategists said the euro was unlikely to rally strongly even if the auctions went well, given strong demand is seen resulting more from the ECB's liquidity boost than confidence in euro zone sovereign debt. Growing concerns that Portugal may have to seek a second bailout also weighed on the euro.
"People are now becoming increasingly used to positive results on the auctions at the moment," said Simon Derrick, head of currency research at Bank of New York Mellon.
"In truth the thing that people are keeping an eye on is Portugal, rather than anywhere else. That tempers any meaningful optimism."
DOLLAR/YEN
The dollar dipped 0.1 percent to 76.11 yen, stuck near a three-month low of 76.027 yen hit on Wednesday on trading platform EBS. The U.S. dollar has come under pressure after the Federal Reserve said last week it was likely to keep interest rates near zero at least until late 2014.
The dollar has been edging closer to a record low of 75.311 yen hit on Oct. 31, when Japan intervened to curb yen strength.
Japan might intervene again if dollar/yen drops below 75.50 yen or market volatility were to increase sharply, said Gareth Berry, G10 FX analyst for UBS in Singapore.
Japanese Finance Minister Jun Azumi said on Thursday he is prepared to take firm measures on currencies when needed, hinting at the chance of solo intervention in forex markets as the yen edges higher versus the dollar.
The dollar was flat against a basket of currencies at 78.934, while markets watched for any moves from the Swiss National Bank as the euro traded within sight of the floor it set at 1.20 Swiss francs.
