* Dollar firm vs yen and Swiss franc on higher U.S. yields
* Yen in retreat from 15-year peak on dollar
* Chinese data supports growth-linked currencies
(Adds quote, updates prices, changes dateline, pvs TOKYO)
By Anirban Nag
LONDON, Sept 10 (Reuters) - The dollar rebounded against the yen and the Swiss franc on Friday after a rise in U.S. bond yields, although the bounce lacked conviction as worries about a U.S. recovery remained strong.
Chinese trade data showed higher-than-expected imports for August, pushing currencies such as the Australian dollar higher against the low-yielding yen, which is often used to fund investments into higher-yielding currencies.
The dollar was off this week's 15-year low against the yen, helped by a rise in U.S. Treasury yields on Thursday on U.S. jobs data and a widening in the U.S.-Japan yield spread.
"Rising U.S. yields have been driving the dollar against the yen," said Gareth Berry, currency strategist at UBS.
U.S. initial claims for jobless benefits fell to their lowest in two months. Payrolls data last week showed fewer job losses than expected in the world's largest economy.
Berry said it was too early to judge whether the U.S. economy was headed for a double-dip. "We need a succession of good data out of the U.S. for the markets to have a stronger conviction about the dollar," he said.
Traders said comments from Bank of Japan Governor Masaaki Shirakawa that Japan needs to raise the foreign exchange issues at international meetings also pushed the yen lower.
The dollar rose 0.4 percent to 84.12 yen. It briefly touched a high of 84.28 yen. The next target will be its high of 85.23 yen hit after the U.S. payrolls data last Friday.
The dollar hit a 15-year low of 83.34 yen this week, intensifying speculation that Japanese authorities might step in to curb yen gains if the move accelerates towards 80 yen. Japanese Prime Minister Naoto Kan reiterated on Friday that authorities would take decisive steps on the yen if needed.
LEADERSHIP RACE TO SWAY YEN
Attention is also turning to a ruling party leadership race on Sept. 14 in which Kan faces a challenge from powerbroker Ichiro Ozawa.
A Reuters poll showed a win by Ozawa in the vote, which would also decide who is prime minister, would likely give a short-term boost to stocks but weaken Japanese government bonds and the yen.
Ozawa has said Japan should intervene to weaken the yen, and while some analysts say intervention would be difficult without support from Washington, others say Tokyo under Ozawa would be more likely to take action if the yen strengthens.
"So the chances of intervention will rise as compared to the period under Kan," said Masafumi Yamamoto, chief FX strategist Japan at Barclays Capital in Tokyo.
The dollar was lower against a basket of currencies, having failed to hold above the index's 55-day moving average at 82.80.
It rose against the Swiss franc, jumping 0.6 percent to 1.0210 francs, well above this week's nine-month low of 1.0060 francs. Traders said Dubai World's announcement of formal agreement to restructure liabilities was helping risk demand and prompting unwinding of positions in the safe-haven Swissie.
The euro was up 0.2 percent at $1.2718, with support expected at its 100-day moving average at $1.2657. It was up 0.5 percent against the yen at 106.95 yen.
The Australian dollar pushed higher against the greenback staying close to a four-month high of $0.9278 struck on Thursday, with Chinese import data boding well for domestic demand and trading partners including Australia.
(Additional reporting by Hideyuki Sano in Tokyo)