FOREX-Dollar off 15-month low as market pauses for breath

* Dollar index rises but still near 15-month low

* Weak dollar trend to persist, analysts says

* Pound falls after Fitch warns on UK rating

* Euro struggles to hold above $1.50 (Recasts, updates prices, adds comment, byline)

By Steven C. Johnson

NEW YORK, Nov 10 (Reuters) - The dollar bounced off a 15-month low on Tuesday and the euro dipped below $1.50 as investors paused to assess whether the global outlook justifies a recent rally in higher-yielding currencies and assets.

The Dow industrials retreated from Monday's 13-month high, providing respite for the dollar, which investors borrow at low interest rates to finance trades in higher-yielding assets.

Sterling in particular struggled on Tuesday after Fitch ratings agency told Reuters that Britain was the major economy most at risk of losing its top AAA credit rating.

Analysts said the dollar was still out of favor, though, as investors expect benchmark U.S. interest rates to remain near zero into 2010 as the economy recovers from a harsh recession.