Markets & Finance

Dollar Rises

MARKETSCOPE : The dollar strengthened early Friday, after rising Thursday following news that the European Central Bank hiked rates but doesn't plan a series of similar moves.

The dollar index was up 0.27 to 92.09. Investors waited for news of November Nonfarm Payrolls.

The euro was off at $1.1704 after European Central Bank President Trichet said that fighting inflation will keep market interest rates low and thus boost economic growth. The sterling was off at $1.7281.

The dollar was up at 120.73 yen following a report that the Bank of Japan might not be ready to tighten policy until after April next year. This would seem to leave the dollar free to move up to the 120-130 yen range, according to Bear Stearns' Steve Barrow.

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