Dollar Up Ahead of Personal Income News

MARKETSCOPE : The dollar was edging up on Thursday ahead of news on Personal Income and Jobless Claims.

The dollar index was up 0.23 to 91.82 before reports on Personal Income and Spending, Jobless Claims, Construction Spending and the Institute of Supply Management index.

The euro was off at $1.1750 after the European Central Bank raised its key rate 25 basis points to 2.25%, in line with expectations. Investors were awaiting ECB President Trichet's comments.

The sterling was up at $1.7311 even though the CBI retail sales index fell to -35 from -18.

The dollar was up at 120.15 yen, even though the Nikkei rose above 15,000 for the first time in 5 years. The recent upward revision to US economic growth fueled confidence about increased demand for Japanese exports.

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